China’s Steel Industry Is In Crisis ...Middle East

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China’s Steel Industry Is In Crisis
source : OILPRICE ( Middle East ) () 26
Everyone thought a COVID-19-ravaged steel supply market in China took a turn towards recovery. However, many other hurdles now stand in the way, both long & short-term. Power cuts and muted demand driven by the construction crisis in China stand in the path of growth. Even worse, the cascading effect has affected the supply of critical commodities like coking coal and iron ore. Like India, infrastructure growth plays a major role in China’s consumption of steel. However, because of the post-COVID-19 slowdown and the worsening property…

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