Demand surge for niche steel products to be boon for China mills [Reuters]
CHINA MOBILE (CHL)
US:NYSE Investor Relations:
chinamobileltd.com/en/ir/reports.php
Company Research
Source: Reuters
Demand surge for niche steel products to be boon for China mills * China expects 33 mln T more specialty steel in new infrastructure * Demand for high quality steel products will jump * Steel consumption seen to drop by 5% in 2020 By Min Zhang and Shivani Singh BEIJING, April 8 (Reuters) - China’s steel companies are banking on rising demand in 2020 for high-end, and higher priced, specialty metal products for use in new infrastructure projects to revive an economy that was already slowing before the recent coronavirus outbreak. As much as 2.8 trillion yuan ($396.75 billion) of local government bonds have been pledged for metal-intensive projects designed to stimulate economic growth, including new light rail systems, energy grid upgrades and an accelerated roll-out of 5G network installations. Li Xinchuang, chairman of the China Metallurgical Industry Planning and Research Institute (CMIPRI), a government think-tank, expects new infrastructure projects to increase direct demand of sp
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