China's steel mills to solve overcapacity through mergers, acquisitions
According to the China Metallurgical Industry Planning and Research Institute, China’s actual demand for steel is expected to reach around 660 million tons in 2017, reducing by 1.9% from the last year.
China's steel demand is expected to reduce by 1.9% and the production capacity of steel is expected to decline by 140 million tons.
Global iron ore supply is expected to hit 1.52 billion tons this year, compared from 1.06 billion tons last year.
China's steel industry will enter the stage of transformation and uses mergers and acquisitions to improve demand in the future.