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Asian steel looking strong as China cuts excess capacity

Moody's says it expects the profitability of its rated Asian steel-makers to be stable in the next 12 months

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A Hansteel warehouse in China's Hebei province. Not only has China cut its excess capacity, it has stepped up its own steel consumption. Moody's has upgraded the outlook for the Asian steel industry.

Tokyo

THE trade friction between Beijing and Washington caused by China's alleged dumping of cheap steel in US markets could well be cooling off, analysts have said.

This comes on the heels of the departure of US President Donald Trump's controversial chief strategist Steve Bannon

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