Baosteel Group chairman Xu Lejiang said at the Boao Forum for Asia 2009 that the outbreak of the financial crisis has made the Chinese steel industry fully exposed to the structuring problems and it is time for the industry to adjust its structure. The industry cannot expect a good prospect unless so much outdated and high polluting capacity is eliminated. As regard to iron ore prices, he noted the prices of primary products should return to the true nature of the goods and be a reflection of scarcity, supply and demand position, and sustainable development of these goods.