(MENAFN) Steelmakers in China will still suffer from low profits in 2014 as production will remain high and demand slows down, Xinhua reported.
Moody's Investors Service released its 2014 Outlook report on Asian steel and coal sectors.
In the report, it said that demand will go up by only two to three percent next year as the country goes through a slow gross domestic product growth.
The report said: "The Chinese government's push to cut inefficient steel capacity will be credit positive for most large steel producers in the region. However, uncertainties remain as to the timing and the scale of the capacity cuts."
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