Close to 2.6 million tons of steel products are currently stored in warehouses, a figure that accounts for nearly 20% of annual steel production. Steel sheets make up for the bulk of the stored inventories, Financial Tribune’s sister newspaper, Donya-e-Eqtesad, reported. The steel industry has been grappling with diminished domestic demand as a result of the recession in the construction sector on the one hand, and tough overseas competition, especially from China, on the other.
