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Chinese Mills Feeling Impact of Industry Downturn
12/04/2015 - Chinese mills in the Shanxi province are cooling blast furnaces and curtailing production due to weakening demand and crimped cash flows, according to the Reuters news service.
Citing a report from the Custeel consultancy, Reuters said 10 of the 23 major mills in the northern province have shut down their furnaces and the rest are running at reduced rates.
The growing output cutbacks underscores that China's steel industry is grappling with declining demand, overcapacity and tight credit, Reuters said.
The growing output cutbacks underscores that China's steel industry is grappling with declining demand, overcapacity and tight credit, Reuters said.
