China's construction steel demand to recover as CNY fades

China's demand for construction steel is expected to recover gradually in the weeks ahead, now that the country's Chinese New Year holiday celebrations are over and building contractors are resuming work on projects, the results of Mysteel's latest survey released on Thursday suggest.

The prediction was chiefly based on actual volumes of construction steel bought by domestic end-users last month and their purchase plans for February. During January, construction steel items purchased by the more than 200 construction enterprises nationwide under Mysteel's regular tracking reached 4.35 million tonnes, slumping by 26% from the