Will cuts match lower consumption?

摘要

Many times in the past steelmakers have failed to implement promised cuts in full. Reductions have consistently been outpaced by falls in demand. Recently there has been evidence of much reduced imports of iron ore and coal over the most recent period. The cuts now proposed may have been enough to restore market balance a year ago, but even if output does fall by 7.5 percent, this has to be compared with consumption prospects.