Market hopeful China’s ‘dual circulation’ policy will bolster domestic steel demand

摘要

Steel market participants anticipate China’s “dual circulation” policy will to boost steel demand for the remainder of 2020, with the more self-reliant economic model aiming to offset slowdowns caused by the Covid-19 pandemic and US-China political tensions. Chinese President Xi Jinping announced in late July that China will focus on a “dual circulation” development model, which ensures a more self-reliant economy while continuing to exchange resources between the domestic and global markets. That will help China cope with “more complicated situations worldwide,” state-owned media outlet People’s Daily reported.