The biggest guarantee for the reform of the iron and steel industry is the strict Executive

Lakshmi, chief executive of ·, the world's largest steel maker Arcelor Mittal; Mittal said that the global steel industry is expected to achieve recovery. He believes that as China starts to close the steel mills, the market will get better.
In the past year, the price of steel has plunged to producers, and Chinese steel mills have been directed to the international market for dumping excess steel, increasing demand for the downturn.
Lakshmi Mittal said · now there have been signs of change. He said: “ we think we have reached the bottom of this situation, the situation should continue to be improved. ”
He pointed out that the spread (iron and steel enterprises in the cost of raw materials and the sales price difference) expanded, suggesting that ArcelorMittal and other peers can expect to increase revenue.
The Chinese Mittal will cut production with confidence, he cited three reasons: Beijing made in the global emissions reduction agreement in the latest environmental commitment to provide funds to help laid-off workers, as well as the potential risks faced China banking.
According to the China Iron and steel industry association data show that last year, more than half of the major steel producers in China are in a loss, the total loss of the association of 64 billion 500 million yuan.
Mittal said: “ I think they have realized that in a state of loss, the price level and the level of excess production is not sustainable. Three years ago … … we believe that China's steel consumption will reach its peak in 2018, but the sad fact is that it will be the top of the 2015 to 2016 years. ”
Analysts say the impact of China's capacity cuts on global steel prices will depend in part on the pace at which it cuts.
Credit Suisse analyst Michael · Chirac said: “ in the past 10 to 15 years, China has been talking about to cut production capacity. Now the difference is that we have entered the stage of this cycle is not sustainable, the price of steel can not stay at this level. Must give up some things, otherwise low prices will make the most of the global steel industry business. ”
Beijing cut production capacity as a rebound in trade, the United States decided this month to impose a 266% tariff on China's steel.
EU authorities have imposed a number of customs duties, and launched a number of investigations, but some critics complain that the EU's response is not enough.
Mittal said: “ the past six months the EU trade action progress, I only hope that they will be able to decide when to move faster, more agile. I think the tax on some steel can be higher. ”