World’s top steel producer warns of ‘severe’ industry crisis

Quick Summary:

China’s steel market - by far the world’s largest - is flashing multiple warning signs.

Global investors are lasered onto China’s struggling economy, even as they also contemplate the possibility of a recession in the United States, with the Federal Reserve moving toward interest rate cuts.

The rout in steel markets was even more marked, with rebar futures in Shanghai plunging more than 4 per cent to the cheapest level since 2017.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: SingaporeChinaGermanyUnited States

Topics: Exports Baowu Cent World’s China’s Warning Industry Global Downturn Steel China

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 07:52:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 638 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22081952

View Article Analysis

About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 20 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 3 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

Publisher Details

Frequently Asked Questions