According to the announced report from China Association of Automobile Manufacturers that China produced 1.7805 million vehicles in May and sold 1.7615 vehicles. The sales volumes were lower than those in April. The Taiwanese steelmaker said that the decreased auto sales number will be the bad news for steel market. Currently, China's steel output still exceeds demand and the slowdown in automobile sales means the steel demand will fall. In order to push up the steel market demand, China's auto and construction industries should find out some way to help its demand to go up.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64917&division=A6
