Chinese steel under pressure: analyst
Jul 03, 2013 | 02:06 PM
| Catherine Ngai
NEW YORK Chinese steelmakers will have to remain flexible if they want to stay competitive, according to John Lichtenstein, managing director of Accenture Plcs global metals industry practice.
Chinas growth has slowed in recent years since the government backpedaled on steel sector investments, causing producers to face tepid demand and squeezed margins. While more stability was expected after the changeover in power earlier this year, the results have been less than overwhelming.
"When the market first slowed down, people attributed it to a number of factors, including the impending leadership change and uncertainty about that and the time needed to ramp up to the latest five-year plan, which was not yet fully in force," Lichtenstein told AMM in a recent interview. "In general, there was the hope and expectation growth would get back on track."....
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