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Post #1915 167
Morning Bites (part 1)

🏗China’s excavator sales grew 16% YoY in December (domestic + export), after the 18% YoY growth in November, according to the CCMA data. Domestic sales were up 22% YoY (but were still down 40% from December 2021), which underpins the statement from China’s Housing Minister Ni Hong that the local real estate sector has started to bottom out gradually (property sales recovered 3% YoY in November 2024)

Despite some positive effect from the recent economic stimulus in China, more actions are required in 2025 for a full-scale rebound in construction activity, we believe

China accounts for 52% of global steel consumption, and for 57% and 61% of world Cu and Al demand, respectively

#steel
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