China sparks shifts in global steel industry

Growth in the steel industry worldwide has stabilised following substantial fluctuations during the recession, but a fair amount of uncertainty remains, particularly as a result of structural change in the Chinese economy, according to World Steel Association director-general Edwin Basson. The global steel industry produced 1.53-billion tons a year and recorded growth of 3.8% in 2013, with 2% growth expected in 2014.