Foundry Daily News

Large Chinese steelmakers to benefit from restructuring

<font face="Arial,sans-serif" size="2">It is reported that the second round of destocking is likely to happy as for the rising steel cost, inventory but weak demand and export. Those large sized steelmakers are expected to win finally.</font>

<font face="Arial,sans-serif" size="2">Mr Wu Xichun honorary president of CISA figured that the global steel output cut is likely to happen in H2 or Q3 of this year. He said that "There is no large governmental investment or export now. The only way out is to adjust steel industry structure."</font>

<font face="Arial,sans-serif" size="2">Some Chinese steelmakers have already started to cut their output since June. But with the rising pressure from inventory and cost, more and more steelmakers like WISO, Shagang, Tanggang and Pangang also joined in that group.</font>

<font face="Arial,sans-serif" size="2">As reported, about 40% of CISA membership enterprises have slashed their output in the first 20 days of July.</font>

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