Tag: China weekly: Steel prices decline amid sluggish demand spike in Covid cases

This week Chinese steel prices declined amidst sluggish demand, spike in covid cases coupled with adverse weather conditions. China’s demand for construction had shown an uptrend from late May, driven by infrastructure investment. However, this week, construction steel market transactions have shrunk again, leading to inventory accumulation. China’s crude steel production fell 3.5% y-o-y to…