China's Massive Steel Industry Is Facing a Wave of Bankruptcies

By Yahoo! Finance | Sep 22, 2024 at 11:26 PM EST

China's steel industry is facing bankruptcies, prompting a needed consolidation. Beijing aims for top 5 companies to control 40% of the market by 2025. Steel exports may continue until 2026 as production decreases. China's banks may cut mortgage rates to boost consumption.

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