20
Sep
14:20
Construction support too late for 2022 steel demand
China’s Central Bank on 20 September decided to maintain the loan prime rate (LPR) unchanged for the next month, Kallanish notes. The one-year and five-year LPR now stands at 3.65% and 4.3%, respectively.
Chinese steel demand may now not benefit from any further rate cuts until 2023 as teh seasonal peak for construction activity is already passing.
One month ago, the Central Bank adjusted the five-year LPR down to nominal historical lows. This prompted the …
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous