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The situation has been exacerbated by the bankruptcy of China's largest construction steel company, Dongling Group, at the end of July. By the end of last month, the price of construction rebar in several regions fell below 3,000 yuan per ton for the first time since 2017, sending shockwaves through
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It declared bankruptcy in late July 2024 as a result of slowing sales of rebar and weaker steel prices due to a slowing real estate market in China. It is unclear if the bankruptcy is for reorganization or for going out of business.
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the industry. A survey conducted by
Chinese market research firm Mysteel this month revealed that only 5% of Chinese steel companies reported being profitable. 출처 : Businesskorea(
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