China's May car sales rise 12%, supporting flat steel prices

摘要

China's vehicle sales recovered in May, helping to support flat steel prices, but the respite may be short- lived as June is a seasonally slower month for car purchases, market sources said. Car sales in May rose 3.2% month on month and by 11.7% year on year to 2.136 million units, according to China Association of Automobile Manufacturers, or CAAM. This took January-May sales to 7.896 million units, down 23.1% year on year.