Basetrade Global’s CEO, Francis Zadan, conducted a tour of China this month, holding fruitful discussions with steel mills in both the east and west of China.
“With the present global economic slowdown affecting productivity, the Chinese steel industry is suffering relatively tough times and many plants have faced a challenging market in recent months” commented Dr Zadan. The economic incentive plan devised and being implemented by the Chinese authorities aims to boost its domestic markets via modifications to the country’s house-purchasing policy. “This will allow a cautious degree of speculation to make sure, so far as possible, not to create another unwanted property bubble,” Basetrade’s CEO went on to say. “We hope the policy will afford a much-needed boost to the Chinese steel industry in 2013.
”In spite of the challenging economics, Basetrade Global’s CEO was pleased to identify niche markets in which steel mills were able to operate profitably and had no shortage of orders from customers. Following the visit, Basetrade plans to work within such markets to help establish a footprint in China and work with customers and partners until such time as demand picks up more broadly.