Reported about 2 months ago
The world's largest steel producer, Baowu Steel Group, warns of a severe crisis in China's steel industry, reminiscent of previous downturns in 2008 and 2015. Chairman Hu Wangming described current conditions as a 'harsh winter' that will be challenging to endure, with major implications for global steel demand and prices amid increased exports from China. The steel market is facing significant risks due to a continuing property downturn and weak factory activity, raising concerns for competitors worldwide.
Source: YAHOO