Chinas steel industry sees decline in Q1 investments
The
China Iron and Steel Association reported that the Chinese steel industrys
investments narrowed 1.4% year on year to RMB 33.22 billion ($4.14 billion) in the first quarter of 2005.
The association explained that Beijings macro-economic controls helped to cool down the steel industry. These controls aided in the prevention of redundant projects and blind
investments.
The association added that the growth rate of domestic steel demand regressed from 20% two years ago to 10% today.