Slower Economy a Crucible for Nation's Steel Industry

(Anyang, Henan) – China's steelmakers have done booming business over the past two decades, but they are now struggling to survive in the face of weakening demand due to the economic slowdown and the central government's efforts to curb pollution.

An index by China Iron and Steel Industry Association (CISA) shows that average price of steel dropped by more than 32 percent by the end of 2015, from the same time a year earlier. This follows slides of 16 percent and 6 percent in 2014 and 2013, respectively.