SHANGHAI, Apr. 24 (SMM) - Steelease had reported 60% of building enterprises surveyed reflected new projects were low in March, and postponed operations. According to Steelease sources, they still had low new projects recently, and postponed projects for a longer period. One engineering company in Shanghai has yet to commence its projects which had been postponed last month; one enterprises in Jiangsu delayed its projects scheduled for May to June; the subsidiary of a Sichuan-based company reported they now had many property projects under negotiation, but had not decide more precious timing for those projects. Building enterprises believe that is because of property developers’ expectations and cash flows, which is affected by regulations to the property sector this year. Developers are taking a wait-and-see attitude especially after detailed policies took effect.
According to a recent Steelease survey of distributors, a few construction sites have commenced operation in April, but some building sites have yet to take delivery of goods. Demand for building steel and rebar will fall short of expectations in May.