China’s economic stimulus has brought some short term relief to its steel industry but the longer term picture still looks difficult.
Workers assemble a steel-structure building in Changsha, Hunan province. Credit: ChinaImages via Depositphotos
By launching a raft of stimulus measures last month, the Chinese government is making a huge bet that it can shift the country’s economy out of its current malaise. Nowhere is there more at stake than in the struggling Chinese steel industry.
The ongoing decline of China’s real estate sector, the source of over a third of Chinese steel demand, has hit firms hard. The industry has been loss-making for 14 straight months, with combined losses through August this year reaching nearly 17 bill
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