Global steel market is put on notice as top China mill warns

摘要

The top steel mill in China has issued a one-two warning about the outlook, saying it sees the twin risks of slowing demand and rising output in the country that accounts for half of global production. The shares sank. Contraction in industries including property and autos will slow consumption this year, although infrastructure remains relatively robust, Baoshan Iron & Steel Co. said in a statement as it reported record profit for 2018. Exports are set to drop amid global trade frictions while supply may expand, said the listed unit of China's biggest steelmaker, China Baowu Steel Group.