China a drag on steel demand: trade group

World Steel Association cuts forecasts amid slowdown in Chinese demand.

Global demand for steel will grow by just 2.0 per cent this year owing to a rebalancing of the Chinese economy and a slowdown in other emerging countries, the sector's trade body says.

The growth forecast to 1,562 million tonnes in steel use by the World Steel Association is down from the 3.1 per cent rate it forecast in April and the 3.8 per cent recorded in 2013.

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