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ArcelorMittal : Chinese Steel Demand Will Contract This Year

ArcelorMittal SA warned that Chinese steel demand will contract this year due to headwinds facing the real estate sector, in the latest sign of the widening fallout from the China Evergrande Group’s crisis.

China dominates global steel markets as the largest producer and consumer, accounting for more than half of total demand. The real estate sector has been roiled by a debt crisis that’s weighed on economic activity, reducing demand for commodities like steel, at the same time as the country battles an energy shortage.

ArcelorMittal said it still expects steel consumption outside of China to rise 12% to 13% this year, as economies reboot after lockdowns. However, Chinese demand is now expected to decline slightly, revised down from the 3% to 5% annual growth the company predicted in July.

China’s property and construction industries contracted in the third quarter for the first time since the start of the pandemic, driven by a slump in real estate. The property sector accounts for 40% of the nation’s steel consumption, making it a key driver of global demand.

 

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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

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Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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