Goldman Sachs is forecasting that steel consumption in China will shrink again from next year after a brief respite in 2016, and the nation's iron ore imports will eventually start to decline too as policy makers shift the economy away from investment.
Steel demand will contract 2 per cent in 2017 and a further 2 per cent in 2018 following a 1 per cent expansion this year, Goldman said in a report received on Friday that summarised results of new modelling. China's steel consumption may end up dropping as much as 20 per cent, according the bank.
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