Key China Steel Price Hits Near-Decade Low on Construction Slump

A key Chinese steel product price has fallen to the lowest in nearly a decade as the prolonged property downturn weakened construction demand and pushed inventories higher. The combination of softer end-use demand and swelling stockpiles points to continued downside risk for steel pricing and related industrial sentiment.

Analysis

A key Chinese steel product price has fallen to the lowest in nearly a decade as the prolonged property downturn weakened construction demand and pushed inventories higher. The combination of softer end-use demand and swelling stockpiles points to continued downside risk for steel pricing and related industrial sentiment.