MYSTEEL: China's Nov construction steel demand to weaken on seasonality

China's demand for construction steel is expected to weaken this month, mainly as some contractors scale back procurement plans amid falling temperatures, which are bringing construction activity in northern China towards its seasonal end, according to Mysteel's latest monthly survey.

The prediction is based on the actual volumes of construction steel purchased by domestic end-users in October and their procurement plans for this month. Mysteel's regular tracking of more than 200 Chinese construction enterprises showed that they purchased 7 million tonnes of steel products in October, up 4.8% on month.