As reported by Reuters, Chinese steel industry, according to analysts, will experience in 2014 its not the best of times. This assessment was confirmed by the head of the Chinese company Baoshan Iron & Steeel.
Assessment of hospitalization. Dai Zhihao, more Chinese steel producers will be forced to close within the next three years due to tighter credit conditions, high environmental standards and increasing pressure on profits.
Dai Zhihao made the comments in an online conference about the steel market of China, after the announcement of the financial results of the company for 2013, where it reported a reduction of 42% in net profit.