China's steel industry to grow slower

  • Tuesday, October 7, 2008
  • Source:

  • Keywords:steel industry
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After two decade’s prosperity, it appears that China’s steel makers are facing a slower pace of growth today.
 
The pressure is mainly derived from the overgrowth of the industry since 2006, declining demand overseas and dramatically increasing costs this year.
 
In order to stay profitably, some steel factories have to cut down prices and production volumes including the local biggest steel maker, Baosteel.
 
This change could lead to an opportunity for mergers and acquisitions within the industry. Moreover, resources and distribution are also believed to utilized better in the future.
 
 
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