Chinese demand forecasts revised down

Chinese demand forecasts revised down (July 10, 2024)

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Chinese steel demand in 2024 has disappointed, even from the fairly bleak predictions made at the end of 2023. Construction steel demand has continued to decline with little sign yet of stabilising. As a result, our mid-term forecasts for annual demand are now lower.

Our crude steel forecast revision has barely moved however, as China has continued to be able to export its weak demand through tax evasion.

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Chinese demand forecasts revised down (July 10, 2024)

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