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CHINA PRESS: Manufacturing Sector’s Steel Demand Share To Rise This Year

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

China’s manufacturing sector share of steel demand in China will rise from last year’s 52%, driven by growth in new energy products and high-end equipment manufacturing, according to Jiang Wei, vice president and secretary-general of the China Iron and Steel Association. Speaking at the Lange Steel Network annual meeting, Jiang said current equipment renewal and consumer goods trade-in schemes will increase consumption by about 8 million tonnes this year, but a declining property sector will reduce demand overall, Jiang added.

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China’s manufacturing sector share of steel demand in China will rise from last year’s 52%, driven by growth in new energy products and high-end equipment manufacturing, according to Jiang Wei, vice president and secretary-general of the China Iron and Steel Association. Speaking at the Lange Steel Network annual meeting, Jiang said current equipment renewal and consumer goods trade-in schemes will increase consumption by about 8 million tonnes this year, but a declining property sector will reduce demand overall, Jiang added.