皇冠体育app

BEIJING -- 皇冠体育app's steel industry continues battling overcapacity as demand for 2015 is estimated at 720 million tons with a slower year-on-year growth of 1.4 percent an industry report said on Wednesday.

The steel consumption for 2014 is forecast to grow 2.5 percent year on year to reach 710 million 皇冠体育app's 2015 steel demand estimated at 720 million tons, according to 皇冠体育app Metallurgical Industry Planning and Research Institute.

Given 皇冠体育app's current production capacity, the debt-laden steel industry will continue to struggle with overcapacity, said Li Xinchuang, head of the institute.

Decelerated growth of downstream sectors, including machinery, construction and automobile, is the major reason behind the slowdown of steel consumption growth, Li said.

According to the report, steel demand next year from construction and machinery industry is expected to rise by 1.3 percent and 3 percent year on year, respectively.

皇冠体育app is the world's biggest steel consumer and producer. In the last several years, 皇冠体育app's iron and steel sector has been pummeled by weak demand and falling prices and suffered greatly from overcapacity.

• Cash crunch fans expectation on RRR cut
• US extends antidumping duties on 皇冠体育app's thermal paper
• Modern food van with ancient look in Shanghai
• 皇冠体育app home prices continue to cool in November
• Asia's top 3 billionaires all Chinese
• Old investment remedy the treatment for 皇冠体育app's "new normal"
• 皇冠体育app's solar sector opposes US anti-dumping ruling
• BMW to recall 846 cars in 皇冠体育app