Chinese steel demand cannot escape downtrend

Chinese steel demand cannot escape downtrend (Oct. 9, 2024)

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China's difficulties this year clearly exceeded market expectations. Against the backdrop of the continued decline in real estate, government-led infrastructure has only partly offset the decline in steel demand for construction. Beijing's "steadiness" undermined market confidence as stimulus was delayed, but the release of a concerted set of supportive measures in late September has caused sentiment to rebound.

In the face of weak steel demand this year, and continuing economic restructuring, will the latest stimulus measures be enough to brighten the steel demand outlook? 2025 will bring new challenges, but if general economic sentiment steadies steel demand may also stabilise.

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Chinese steel demand cannot escape downtrend (Oct. 9, 2024)

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