November 2011 | Steel Tracker
The last source of all demand: construction in China
The recent publication of data on Chinese construction adds to the general concern on weakening demand for steel.
Earlier this week, the Chinese housing ministry declared that the target for construction starts had been met, though did have to add that construction starts was defined loosely. The statement revived preoccupation that the construction of the 10 million housing units expected to be completed by the end of 2011 is running late. In fact, the expansion of additional floor under construction has slowed down in the past months. The area highlighted in green in Chart one shows a decelerating trend in building expansion in Q3 2011. Is this the beginning of a new contractionary trend in the Chinese construction sector, the last bastion of solid demand for steel products? Or is this the trigger that will prompt the government to revive the construction sector and boost steel demand in...
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