Morning Bites (part 1)

🔗China’s crude steel output rose 5% YoY in March vs. the -2% YoY in January-February, according to the NBS data. Although Beijing plans to cut 'excessive' steel output in 2025 (up to 2-5% of China’s 2024 supply, per market estimates), it was still up 1% YoY in 1Q25

🏢China's property sales slid 2% YoY in March, after the -5% YoY in January-February, and were down 40% vs. the 2021 levels. Meanwhile, floor space starts declined a further 19% YoY in March (-67% vs. 2021). Personal mortgage loans were flat YoY in March (-50% vs. 2021), while property completions declined 12% YoY

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