-- China’s steel crisis is setting the stage for a wave of bankruptcies and speeding a much-needed consolidation of the industry, according to Bloomberg Intelligence.Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public TransportAlmost three-quarters of the country’s steelmakers suffered losses in the first half and bankruptcy is likely for many of them, Michelle Leung, a senior analyst at BI, said in a note. Xinjiang Ba Yi Iron & Steel Co.
However, China’s steel exports aren’t likely to decline until the end of 2026, as total production falls and more trading partners step up restrictions, according to BI.China’s housing rescue package offers the best path for putting the country on track to expand around 5%, in the view of most economists, assuming it’s deployed to maximum effect in the face of a real estate crisis expected to last as long as five more years.
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