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After the heady days of the 2000s, which were marked by the commodity boom and China's massive appetite as it became the largest producer and consumer, the steel sector is finding the aftermath of the party difficult. Eight years after the 2008 crisis, it is still suffering from significant overcapacity. The structural slowdown in the Chinese economy is obviously one of the main reasons for this development, but other factors are also at work - including the contraction and tertiarisation of activity in the rest of the world and the correlation of steel prices with other non-renewable commodities, which are also falling.

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