26-April-2024
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Good times gone: Slower business awaits Chinese steel mills in 2018
15-Dec-2017

China's steel demand will slow in 2018 as the world's second-largest economy reins in stimulus and tightens credit, ending a two-year bonanza for the world's biggest producers, analysts say. Along with a recovery in Chinese steel supply after this winter's production curbs are lifted, that could spell downward moves for prices again, they said. At one stage this year, Chinese steel prices were nearly triple 2015 levels. That surge was due to the government's tough environmental crackdown and winter output cuts, along with a campaign to tackle overcapacity and Beijing's infrastructure push that helped inflate profits at steelmakers to the highest in decades.

News Source:- https://economictimes.indiatimes.com/news/international/business/good-times-gone-slower-business-awaits-chinese-steel-mills-in-2018/articleshow/62082602.cms