Automobile production in China, already the world’s biggest market, may climb about 60 percent in the next eight years, boosting demand for steel, according to ArcelorMittal, the largest producer.
ArcelorMittal, the world’s largest steelmaker, welcomed the potential removal of a near 10-year block on overseas takeovers in China’s steel industry.
Bank of England Governor Mervyn King said that global policy makers’ response to the financial crisis of 2008 has left borrowing costs too low.
Economic growth in the northern Chinese city of Taiyuan, Shanxi province, has crashed to zero from 12 percent in one year. Yan Xiaofeng’s coal-equipment business has gone down with it.