China’s Oil and Steel Industries Are in the Red. What Now?

China has seen very mixed fortunes from its commodities markets, which have been languishing under a long-running crisis in the property sector, according to The Global Treasurer. And while iron ore, the key raw material used to make steel, has been defying expectations of a slowdown, it’s not that simple. In the first half of this year, Iron ore imports rose a robust 6.8% compared to the same period in 2023, reaching 611.18 million metric tons, up 35.05 million from the first half last year. However, all that iron ore has not been going…