Morning Bites (part 1)

🔗China’s crude steel output dropped 8% YoY in March, after the +2% YoY in January-February. Output slid amid the subdued domestic demand, which has also triggered a surge in Chinese steel exports. To recap, China represents ~57% of global steel supply

🏢China's property sales fell 24% YoY in March (vs. the -25% YoY in January-February), to the lowest point in the last eight years, being 39% below the 2021 level. Floor space starts were down 26% YoY (-59% vs. 2021) in March, after the 31% YoY decline in January-February. Personal mortgage loans also came in 47% lower YoY (vs. -37% in January-February), while property completions fell 22% YoY (vs. -21% YoY). Despite the continuous slowdown in China’s property sector, record high liquidity inflows in early 2024 might bolster its recovery this year, we believe

#steel #property 
https://metals-wire.com/sector/Steel