Weak demand eroding Chinesesteelmakers’ profitability: Moody’s

摘要

The profitability of Chinesesteelmakers will deteriorate further overthe next 12 months owing to weak domesticdemand, but this situation should eventuallyaccelerate capacity removals and restructuringover the next one to two years, Moody’sInvestors Service said on Tuesday.“Slow investments in real estate andinfrastructure development as well asweakening manufacturing activity — againstthe backdrop of slower economic growth— will drag down domestic steel demand inthe next 12 months,” Jiming Zou, a Moody’svice president and senior analyst, said in astatement.