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MNI BRIEF: China Steel Demand Improving In H2 - Fitch

MNI (Beijing)

Fitch Ratings has revised its outlook for China's steel sector to neutral from negative, citing expectations the government will maintain strong construction activity in H2, driven by high use of infrastructure linked special-purpose bonds.

Local analysts previously told MNI the steel market would pick up in H2 as construction gathered pace. (SEE: MNI: China H2 Steel Demand Seen Stronger On Property Activity - Bonds & Currency News | Market News)

The official PMI for May showed the construction sector sub index posted 58.2%, a slowdown from April but still above the 50% expansionary point.

MNI Beijing Bureau |
MNI Beijing Bureau |

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