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MNI BRIEF: Real-Estate Steel Decline Offset By Growth Areas

MNI (BEIJING)
MNI (Beijing)
Policy NewsAPACChinaBriefStoryRegion

Beijing's property sector reforms and a shrinking population will see the property sector's proportion of total China steel demand fall from 35%-40% to 30% in the future, according to Mysteel analysts on Wednesday, although the decline would be offset by growth from white goods, automobile, ship making, as well as infrastructure.

Steel exports, would fall by 10 to 20 million tonnes y/y in 2024, after increasing 36% to 90.2 million tonnes in 2023, given trade friction, tighter export supervision and increased capacity from South East Asia.

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Beijing's property sector reforms and a shrinking population will see the property sector's proportion of total China steel demand fall from 35%-40% to 30% in the future, according to Mysteel analysts on Wednesday, although the decline would be offset by growth from white goods, automobile, ship making, as well as infrastructure.

Steel exports, would fall by 10 to 20 million tonnes y/y in 2024, after increasing 36% to 90.2 million tonnes in 2023, given trade friction, tighter export supervision and increased capacity from South East Asia.

Keep reading...Show less