Recent reports from over the world have indicated a significant decline in demand within the steel industry – with many having stopped using the material entirely.
Business Insider believes this will have a major impact on workers within the industry – with many attributing the decline to the growing debt problem which has plagued the Chinese steel industry in recent years.
As per Macquarie: “The whole sector is struggling and no one can be insulated.
The sector is facing increasing pressure on funding as banks have been tightening lending to the sector – both loans and the financing provided for steel and raw material stockpiles.”
Unless the volume of steel production decreases, or a demand for steel increases, the industry looks to be in trouble.
Prof Market Research, a high-end market research and consulting firm, recent carried out a professional and thorough market survey on the global and Chinese steel wire industry from 2009 to 2019.
The report reviews the basic information of steel wire rope, from its classification and application to its manufacturing technology.
It then explores the leading global and Chinese steel wire rope manufacturers. The report details: Product specification, capacity, production value, cost-efficiency, gross margin and market share.
The report later examines the upstream raw materials, downstream market and the current market dynamics of the steel wire rope industry.
The report concludes by making proposals and feasibility analysis for a new project of the steel wire rope industry, providing a complete insight of the Chinese steel wire rope industry from 2009-2014.
Article by Rope Services Direct
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