Morning Bites

🔗China’s crude steel output grew 7% YoY in March, in line with the 7% YoY growth in January-February. According to Reuters, steel mills boosted their output amid improved margins and the expected robust downstream demand during the peak construction activity season. In addition, the strong Chinese March PMIs might indicate a potential recovery in domestic steel demand

🏢China's property sales were flat YoY in March (vs. -4% YoY in January-February), but still 20% below the historical highs of 2021. The decline in floor space starts accelerated to 29% YoY last month, after the 9% YoY drop in January-February. However, personal mortgage loans jumped 20% YoY (vs. -15% in January-February), while property completions also grew 31% YoY in March (vs. 8% YoY growth in January-February). Despite the uncertainty in the real estate segment, China’s strong liquidity injections data might add support to local construction activity in 2023

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