Market downplays Beijing’s consumption stimuli on steel
Nov 21, 2019 18:00
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China seems set to continue with efforts aimed at encouraging consumption in steel-intensive industries including automobile and home appliance manufacturing which could stimulate demand for steel products such as coated sheet and specialty steels. However, market watchers canvassed by Mysteel Global warn that the positive impact could be limited.
Last week, China’s steel market perked up a little after Meng Wei, the spokesperson of China’s National Development and Reform Commission, stated at the NDRC’s monthly press conference on November 15 that the central government intends to further promote consumption subtly and indirectly as part of efforts to boost the