CONF: China's steel supply glut to persist over next couple of years

China's steel industry is set to enter a period of deep adjustment over the next two or three years against the backdrop of a persistent oversupply, predicts Liu Andong, Vice President of the China Iron and Steel Association (CISA).

"China's crude steel output is falling, but it's not rapid enough to offset the drop in steel consumption, leaving the supply-demand imbalance prominent," Liu told delegates at the 17th Ferrous Value-China Summit held in Southeast China's Xiamen city on November 12. "In the first nine months of this year,