China steel industry outlook ‘calamitous’: WSD

Jun 18, 2013 | 04:00 PM | Frank Haflich

Tags  Peter Marcus, Karlis Kirsis, World Steel Dynamics, China steel, scrap exporter, Steel Success Strategies XXVIII, Frank Haflich

NEW YORK — China’s steel industry is in a "calamitous situation" as its era of breakneck growth comes to an end and demand by 2015 "may not be much changed from 2013," an industry analyst said at the Steel Success Strategies XXVIII conference in New York.

Peter F. Marcus, managing partner at World Steel Dynamics Inc. (WSD), Englewood Cliffs, N.J., said that during a recent visit to China he found the problems facing the country’s steel producers’ are "deeper than thought" and more long term in nature, and over the next decade demand is likely to hit a "Great Wall."....

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