China's steel demand may still be weak after China's Lunar New Year
Time:Fri, 19 Jan 2024 09:02:41 +0800
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China's housing market remained weak in December 2023, leaving doubts about the strength of steel demand recovery after the China's Lunar New Year in February.
To ensure good economic growth in 2024, the government will launch stronger monetary and fiscal stimulus measures to ease China's real estate crisis and support the manufacturing and infrastructure sectors.
However, any major stimulus measures will not be announced until March after the Two Sessions in Beijing. This means social financing data will remain weak for the first quarter. Due to the high base, demand may not even exceed early 2023 levels in construction and manufacturing.
