Morning Bites (part 1)

🔗China’s crude steel output rose 18% YoY in September, accelerating from the 1% YoY increase in August. According to industry sources, Chinese steelmakers ramped up production due to improved steel demand. In September, apparent steel consumption rose 18% YoY, reversing from the 1% YoY decline in August

🏢China's property sales fell 16% YoY in September (vs. -23% YoY in August). Floor space starts dropped 44% YoY in September, after the 46% YoY decline in August. At the same time, personal mortgage loans were down 18% YoY in September (the same as in August). Meanwhile, property completions declined 6% YoY in September (vs. -3% YoY in August). We note that the peak of China's property crisis appears to be over, which might imply a potential recovery in the near term

#steel #aluminium #copper
https://metals-wire.com:3000/sector/Steel