DEMAND--Recovering Demand from China

摘要

In 2019, China's real estate development investment grew 9.9% year-on-year, indicating an increasing end-use demand from the construction industry amid slower economic growth caused by the trade conflict. The global outbreak of COVID- 19 has seen industrial activity limp and prices plummet across the base metals sector. Demand for zinc is heavily tied to the construction industry as alloys for its anticorrosive properties and relative ease in combining with other metals. China Steel PMI increased to 42.2% in March, following historic lows of 38. China's Caixin Manufacturing PMI rose to 50.1% in March, up from 40.3 in February, whilst US Manufacturing data records below 50, indicating a contraction.