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China Construction Sector Demand For Steel Limited

CHINA PRESS

China’s construction sector demand for steel will remain limited due to poor availability of funds and the pace of progress on major projects, according to Wang Guoqing, director of the Lange Steel Research Center. However, steel mills expect demand to remain resilient from robust consumption in automobile, home appliance, and shipbuilding sectors. According to Wen Gang, director of the Steel Division of the Department of Raw Materials Industry, China’s steel consumption has effectively peaked and will enter a long-term period of reduction adjustment. (Source: 21st Century Business Herald)

MNI Beijing Bureau | lewis.porylo@marketnews.com

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