Over January-March, China's property market saw favorable growth rates of investmentand housing starts. However, the sector is unlikely to see investment, sales and new startsgrow strongly later this year, unless there is further loosening of monetary policy.The strong property sector over January-March provided firm support for steel demandand margins over the period. Chinese rebar profit margins averaged $74.80/mt in the firstthree months, up around 30% from $57.70/mt in the final month of 2018. China'sconstruction sector – comprising property and infrastructure – accounts for about 50-55%of the country's steel consumption.
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