China's auto sales drop in 2018 dampens outlook for steel demand

China’s auto sales fell last year for the first time since the 1990s, dampening expectations for steel demand in 2019 although some in the market think that there are still opportunities for steelmakers to remain profitable.

Sales totaled 28.1 million units last year, down 2.8% from those sold in 2017, according to statistics from the China Association of Automobile Manufacturers (CAAM).

The sales decline,...

Published

Miranda Song

January 17, 2019

05:55 GMT

Shanghai