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Saariaho said that China's integration of the steel industry is important, but China has not made much progress in this area. The association is headquartered in Brussels.
Saariaho said in an interview with Dow Jones in the gap between the annual meeting of the World Steel Association that the degree of integration of the steel industry is not high, especially in China, so accelerating the integration efforts will benefit all parties.
Saariaho warns that the V-shaped recovery model may not be suitable for the current economic situation.
He said that different regions may present different shapes of recovery curves, but more importantly, globally, the situation before and after the economic crisis last year may have been significantly different.
He also said that emerging economies are crucial to economic recovery.
He said that China’s economic recovery will mainly depend on whether the Chinese government can persist in implementing the economic stimulus plan and whether it will expand its 2-year incentive plan with a scale of RMB 4 trillion. Saariaho said that the stimulus plan should not end prematurely.
The signs of protectionism are also worrying. Saariaho said that there seems to be an increasing number of trade protection measures around the world, which is worrying and does not benefit the steel industry.
World Steel Association: China's steel industry must speed up the pace of integration
Mika Saariaho, Deputy Secretary-General of the World Steel Association, said that with the global steel industry entering a fragile recovery period, the industry must accelerate the pace of integration, especially in China.