Growth in Chinese steel consumption is expected to slow markedly in the second half of this year amid weakening demand from the construction, household appliance and automobile industries, according to industry experts.
Yang Siming, general manager of Nanjing Iron & Steel, told a steel conference in Xiamen this week that most Chinese steel mills had cut output because of shrinking demand and high costs of raw materials.
“We've been cutting production since last month and, according to my know-ledge, most domestic mills are cutting output too,” Mr Yang said.
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