China's iron & steel market faces economic crunch

The ironstones bought by China's iron and steel enterprises in the previous time were at a high expense. However, the market demands were depressed, leading to the decline in China's steel prices, no profits for steel enterprises and consecutive losses of the steel industry. In January 2009, the China government issued adjustment and revitalization plan of iron & steel industry, including the replacement of lagging yield capacity, structural adjustment of steel types, the expansion of domestic demands and the duty adjustment to increase the exports of iron & steel products and the encouragement of mergers and acquisitions among enterprises, which clearly showed the determination of the government to support iron & steel industry. Although Chinese iron & steel industry cannot keep the previous growth speed in 2009 to 2010, it is predicted that the development speed will be slow as a whole but not slowdown.Adidas Predator Accelerator