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Brisk Infrastructure Construction to Prosper China Steel Industry
May 25,2017 15:34CST
smm insight
Source:SMM
Deutsche Bank forecasts steel consumption to expand 3% in 2017.

SHANGHAI, May 25 (SMM) – Prices of products for concrete structure reinforce registered highest level in five year, such as average rebar price in China climbing to 4,048 yuan ($522) on May 22, up 21% from 2016’s level, due to brisk demand.

Meanwhile, sales of excavator hit a 5-year high in the first four months of 2017.

Booming infrastructure construction is attributed as the main factor to rising demand of steel and heavy vehicles.

Deutsche Bank forecasts steel consumption to expand 3% in 2017.

China Eliminates 31.70 Mln Tonnes of Crude Steel Capacities in January-April

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