Sector Focus 

Steel: the great leap backward?

Steel: the great leap backward?

For all its rapid growth, China makes some changes gradually. So when President Xi Jinping unveiled his vision for a more even and sustainable pattern of economic growth at last month’s 19th National Congress, commodity demand forecasts didn’t fall off a cliff. That’s understandable: industrial reform cannot be enacted overnight. Indeed, according to China’s own estimates, steel output is still on course to rise 3 per cent this year, and by another 0.7 per cent in 2018.

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