Good times ahead for Chinese steelmakers
China Daily | Updated: 2010-02-03 08:03
SEOUL/HONG KONG: Steelmakers from China and South Korea may post a faster recovery than Japanese peers this year, given their higher exposure to the booming Chinese economy, according to ratings agency Fitch Ratings.
The agency said in its North Asian Steel Outlook 2010 report that it expects all the rated North Asian steelmakers to recover this year.
According to the report, China's rapid economic recovery has led to strong improvement in steel shipments for Chinese steelmakers.
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