Iron-ore at risk as China veteran warns steel output to drop

August 25, 2016

Responsive image

Steel production in China, the world’s biggest supplier, will probably contract this year and shrink further in 2017 as local demand slows, hurting the outlook for iron-ore, according to Li Xinchuang, a vicechairperson at the China Iron & Steel Association. “There will be significant declines in the next three months,” said Li, who’s also dean of the China Metallurgical Industry Planning & Research Institute. “If steel consumption and production are set to decline, then there’ll definitely be less demand for iron-ore,” Li said in a phone interview on Wednesday.

Category: General