China steel demand shrinks for first time in 14 years as slowdown …

China’s steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material. Apparent crude steel consumption in China, the world’s top consumer and producer of the alloy, fell 1.9 percent on year to 61.9 million tonnes in August, Wang …
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