Weak real estate market depresses Chinese steel demand
China's domestic steel demand and prices are likely to remain weak over the rest of 2009, The real estate sector consuming around 125m tonnes of steel equivalent to 25% of China's total steel consumption is likely to fall by 20-30% in 2009-10.
China's domestic steel demand and prices are likely to remain weak over the rest of 2009, The real estate sector consuming around 125m tonnes of steel equivalent to 25% of China's total steel consumption is likely to fall by 20-30% in 2009-10.
Northern China braces for massive overcapacity of HRC
With several major iron making facilities set to be commissioned in northern China in the next couple of months, China could witness significant growth of hot rolled coil (HRC) production in May and June, Steel Business Briefing learns. Mills and traders contacted by SBB believe steel market demand could rebound slightly in May and June. But new capacity coming on stream is likely to undermine any price
gains.
With several major iron making facilities set to be commissioned in northern China in the next couple of months, China could witness significant growth of hot rolled coil (HRC) production in May and June, Steel Business Briefing learns. Mills and traders contacted by SBB believe steel market demand could rebound slightly in May and June. But new capacity coming on stream is likely to undermine any price
gains.
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