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Company news about CONF: China's steel demand to dip YoY in 2023

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CONF: China's steel demand to dip YoY in 2023

2023-11-14

Addressing delegates at the International Ferroalloy and Stainless Steel Industry Annual Conference in Nanjing on November 16 organized by Mysteel, Wu highlighted the overall downward trend in China's construction sector – a symptom of the country's struggling property market.


For example, although China's fixed asset investment (FAI) has been increasing overall in recent years, the proportion of funding allocated in the domestic property market continued to fall within total FAI, Wu pointed out, taking the fact as an obvious sign reflecting the slip in the property market.


Over the first ten months of this year, though the country's fixed asset investment increased by 2.9% on year to total Yuan 41.94 trillion ($5.78 trillion), funding invested in the property market dropped 9.3% on year to Yuan 9.59 trillion, according to data released by China's National Bureau of Statistics.


On the other hand, new growth was seen in China's manufacturing sector, Wu told delegates, with the home appliance industry and automotive manufacturing sectors posting relatively strong performances.

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Company news about-CONF: China's steel demand to dip YoY in 2023

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CONF: China's steel demand to dip YoY in 2023

2023-11-14

Addressing delegates at the International Ferroalloy and Stainless Steel Industry Annual Conference in Nanjing on November 16 organized by Mysteel, Wu highlighted the overall downward trend in China's construction sector – a symptom of the country's struggling property market.


For example, although China's fixed asset investment (FAI) has been increasing overall in recent years, the proportion of funding allocated in the domestic property market continued to fall within total FAI, Wu pointed out, taking the fact as an obvious sign reflecting the slip in the property market.


Over the first ten months of this year, though the country's fixed asset investment increased by 2.9% on year to total Yuan 41.94 trillion ($5.78 trillion), funding invested in the property market dropped 9.3% on year to Yuan 9.59 trillion, according to data released by China's National Bureau of Statistics.


On the other hand, new growth was seen in China's manufacturing sector, Wu told delegates, with the home appliance industry and automotive manufacturing sectors posting relatively strong performances.

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