China continues to weigh on steel companies

TheStar Fri, Sep 15, 2023 12:00am - 8 months View Original


Stable for now: A worker stands among rolls of aluminium foil in China. Unlike steel, aluminium prices are expected to remain firm for the time being. — AFP

PETALING JAYA: The steelmaking sector remains beleaguered by a China slowdown that continues to play out.

Various economic challenges continue to be felt by the second-biggest economy in the world, including the recent property debt crisis.

The average selling prices for the raw material for steel are seeing continuing falls and this presents a challenge to companies operating in this sector, according to Kenanga Research.

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