Reuters are reporting details of more steel makers cutting back on production, including Baosteel, Evraz, Nippo, Severstal and Tata.
Whilst the European steel manufacturers have been known to cut production to protect prices on a number of previous occasions, we have never seen the global industry react on this scale.
In truth, orders for steel have collapsed around the world as manufacturing, and particularly the automotive and construction industries face difficult times.
More details Production cuts by major global steel companies | Reuters
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