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China Is Flooding Market With Too Much Steel, Lobby Groups Say

  • Steelmakers globally have been hit by a slowdown in demand
  • Associations say China is main cause of excess capacity

The steel market is being overwhelmed with metal coming from China’s state-owned and state-supported producers, according to a collection of industry associations.

The market “is suffering from a crisis of overcapacity and the Chinese steel industry is the predominant global contributor to this problem,” the nine associations, including Eurofer and the American Iron and Steel Institute, said in a statement Thursday.