
BEIJING, Feb. 25 -- Chinese demand for steel will be limited in the next 12 months by the slowing domestic economy and weakness in the real estate market, according to a Moody's report released on Wednesday.
The situation will pressurize steelmakers in China and throughout Asia as the country accounts for about 70 percent of the region's steel demand, the report said.
Despite the sluggish demand, Moody's forecast that Chinese steel companies will keep 2015 production close to 2014 levels and boost exports, given the price premiums outside of China.
The rise in exports will increase downward pressure on steel prices regionally and to a lesser extent globally, the report said.
Moody's also pointed to growing threats to the stable outlook of the Asian steel industry. Moody's has classed its outlook as stable since August 2014, when the agency changed it from negative.
PLA soldiers operating vehicle-mounted guns in drill
Beauties dancing on the rings
Blind carpenter in E China's Jiangxi
Top 10 highest-paid sports teams in the world
In photos: China's WZ-10 armed helicopters
UFO spotted in several places in China
Certificates of land title of Qing Dynasty and Republic of China
Cute young Taoist priest in Beijing
New film brings Doraemon's life story to China in 3D
Obama is sowing discontent in S.China Sea
Rescuers work through night to reach cruise ship survivors
Driving through limbo
Facing down MERSDay|Week