China's steel demand may be slowing down, led by deceleration in its property and fixed-asset investment(FAI) sector. Property investment in the first seven months grew just 30.9 percent year-on-year, compared with 33.5 percent in the first half, the government recently reported. Both property prices and transaction volumes fell during the period. "Drops in property sales volume may have led to evident falls in newly started property development projects... we are very worried about the result of the slowdown in property development growth," said a Shanghai-based analyst.
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