Taking sharp cuts in steel production during the first half of 2018, future developments in China will be crucial to the iron ore market By Anton Löf, Magnus Ericsson & Olof Löf
While steel market conditions have continued to improve in most regions, strong headwinds remain. According to the Organisation for Economic Cooperation and Development (OECD) in its Steel Market Developments Q2 2018, it is uncertain whether the momentum will continue. The financial vulnerability of steel firms and the presence of distortive governmental support and subsidies are still of great concern.
World crude steel production grew to 1.689 billion metric tons (mt) in 2017, a new global all-time high. This is an increase of 3.8% over 2016, and the second consecutive year of growth.
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