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Why Further Capacity Cuts May Be Needed in China

Mark O'Hara
Why Further Capacity Cuts May Be Needed in China

As noted previously, China’s steel production has risen sharply this year. According to the CAAM (China Association of Automobile Manufacturers), China’s vehicle sales surged 11.5% YoY (year-over-year) to 2.3 million units. Thanks to this surge, the year-to-date sales growth now stands at an impressive 4.8%—comfortably above the 3% growth that CAAM predicted for the year.