Sarah Xiong

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China is one of the largest manufacturers and consumers of iron and steel products.   The steel industry in China has developed over several decades into the biggest in the world. China accounts for nearly 50% of world steel production. It has been driven by rapid modernization of its economy, construction, infrastructure and manufacturing industries. The Chinese steel market has been caught in a financial dilemma in recent years. Steel mills are confronted with both severe financial strains…