China's stable property market to support steel demand

摘要

China's government has prioritized a "stable" property market in 2019, and could loosenpurchasing restrictions further, which would support housing starts and back upconstruction steel consumption.Seasonal end-user demand for construction steel has recovered strongly in March, withtransaction volumes in the domestic market over March 11-13 rising by 28% from earlylast week. The strong demand recovery is likely to be sustainable if the property market isfurther supported.