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CSI: Chinese Steel Demand Enjoys a Crisis

CSI: Chinese Steel Demand Enjoys a Crisis (June 8, 2020)

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China’s steel demand is set to grow this year despite, and in fact because of, the coronavirus. This does not mean the economy is strong. Consumer spending and employment remain problems and the financial burden that is slowing growth will become that much heavier this year.

Steel however is a short-term winner, with money being released into steel intensive sectors, particularly infrastructure. Yet again, when the world is turned upside down, China’s steel sector will flip the downside up. The long-term consequences may not be positive, but in the short-term China’s demand growth will be shaping global steel markets.

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