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Diversified Industrial
The global steel industry is a mature and cyclical industry, with production levels closely tied to economic growth. In 2022, the global steel production reached 1.86bn metric tons, with China accounting for over half of that production.
The steel industry faces several headwinds that could dampen growth prospects. The ongoing war in Ukraine and its impact on energy prices, along with rising inflation and interest rates, could create economic uncertainty and hinder investment in steel-intensive sectors.
China has recently risen to prominence as a global leader in renewable energy and makes significant investments in the field.
