Source: China – South China Morning PostAs a fierce price war threatens to turn their revenues microscopic, China’s steel firms are calling for changes to make the industry less self-destructive – a move in line with directives from Beijing to suppress a downward spiral that has degraded multiple sectors of the country’s economy.
While acknowledging the seemingly endless drive to reduce prices is erasing profit margins, industry insiders still struggle to find a market for their chronic oversupply, and expressed scepticism over the…Read More