Stabilizing forces set to prop up the steel sector

Industry under pressure from overcapacity and environmental protection requirements, but companies will also have new opportunities, Du Juan reports

China's steel industry will face both challenges and opportunities this year as most of the provinces have adjusted their GDP growth target to a lower level.

After the central government decided not to evaluate local government's performances based on GDP growth, about half of the provinces cut their 2014 GDP growth target to lower than 10 percent for slower but reasonable economic development.