Restructuring of the Chinese Steel Industry: Challenges and Prospects
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The Chinese steel industry is facing several challenges: low steel industry concentration ratio, inefficient industrial alignment, difficulty in reforming state-owned steel mills, mounting environmental requirements, and impact of smart manufacturing. The restructuring of the Chinese steel industry will be accelerated in the future with local governments’ ambitious goals for steel restructuring and M&A and stagnating steel market. Under strict environmental restrictions, the steel industry will face active realignment and reform of state-owned enterprises.