Slowdown of the Chinese Economy

Change in economic policy

The Chinese economy was primarily an export driven economy.
With the changing scenario it has decided to rebalance the
economy by moving away from heavy reliance on investment an
exports to a domestic consumption driven economy.
Global Factors
The rising environmental concerns globally has led to a further
sluggish industrial outlook concerning steel sector.
There is a reduced demand for steel from EU, Japan, South Korea
which are the primary importers of Steel in the world
Devaluation of Yuan
Measure to make export prices competitive
Reduced forex reserve, made repayment of debt more
difficult.
No change in steel production
Despite of soaring demand of steel globally and
domestically, no reduction in production capacities
Primary reason is 3 million jobs in steel sector and
unavailability of skilled worker to shift to service economy.