Bloomberg reported that China’s steel production remains below its 2020 peak as demand for construction materials continues to weaken alongside the real estate market. However, stronger demand from manufacturing, infrastructure, shipbuilding and renewable energy sectors has helped offset some losses. Analysts say this reflects a broader shift in China’s economy away from property-led growth toward industrial development. 

Rising trade barriers and environmental regulations abroad are expected to create challenges as the industry navigates a gradual long-term decline in output, reported Bloomberg. 

For more information, click here.