China’s macroeconomic indicators continued to signal lacklustre momentum in the country’s steel industry in September 2025. Latest data from the National Bureau of Statistics reveals that investment growth in the infrastructure sector plummeted to 1.1% in January-September 2025, while the same for the manufacturing segment slipped to 4.0%. Real estate development growth remained negative, at -13.9%. All three are at their lowest in over two years, suggesting that demand weakness may persist in the medium term.
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