MYSTEEL: China's H2 steel consumption to fall 5.7% on year

China's apparent consumption of crude steel is expected to fall by 27.8 million tonnes or 5.7% on year to 459.8 million tonnes in the second half of this year, Mysteel predicts in its newly-published forecast for the domestic steel market.

Among the major steel-consuming sectors, the domestic property market is unlikely to see any significant recovery in the second half, as limited incomes among consumers and increased default risks of real estate enterprises are causing property sales to remain under pressure. Market participants suggest that lower mortgage rates may