Moody's: "China Steel Capacity Will Not Increase Substantially Next Year"

2012-12-05

"Moody's", one of the three credit ratings institutions, recently claims that the future prospects of Asian Steel Industry still remains stable with market demands expected to climb up a little next year, and that the capacity of China Steel industry will not increase substantially.

According to Moody's, the fatiguing China Steel Industry mainly derives from its imbalancing supply-demand chain. China has already accounted for more than 70% of total steel capacity and consumption in Pan-Asia. Moody's predicts that by 2013, China's steel consumption will have a minor increase, and the production speed will slow down; therefore, the above-mentioned imbalance will gradually return to stability.