China's construction activity nears 60%, will help draw down steel inventories

摘要

Singapore—The ratio of restarted property and infrastructure projects in China reached almost 60% Sunday, according to government data, which should help draw down steel inventories and support prices. Work on construction sites was at a standstill from before the start of the Lunar New Year holidays on January 25, but has now climbed back to 58.15%, according to the Ministry of Housing and Urban-Rural Development.