Global economy still faces risks and difficulties in 2013 and economic growth remains subdued. In the first quarter of 2013, the American GDP growth rose to 2.5% and overall economy improved slightly, while the euro zone economy was in deep trouble and its GDP dropped by 1.0% YoY. Meantime, China’s economic growth fell to 7.7%. Facing the sluggish global economy, World Bank and IMF have lowered down their forecasts for the economic growth of global and major economies in 2013 and 2014.

China’s economy wouldn’t rely too much on government’s heavy investment to maintain sustainable development. The country’s steel production capacity has released faster and irregularly this year and daily crude steel output once reached 2.2 million tonnes this February, coupled with market confidence dampened by the failed expectation of government policy, the imbalance between steel supply and demand was worsening, resulting in the downturn of steel & raw materials prices which rose at the start of this year. Fretted by the financialization of steel and raw materials products, prices of major steel and raw materials products fell by as high as 20-30%, approaching the lowest level of 2012. Steel industry faced embarrassing situation again.

Under the combined supervision of China Iron & Steel Association (CISA), Umetal is going to hold "China Steel Raw Materials & Fuels Summit 2013" in Shenyang, Liaoning Province on Aug 21-Aug 23, 2013. The expected attendance is about 800. Umetal is looking forward to your presence.