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China steel end-user segment H2 outlook

机译:中国钢铁最终用户段H2 Outlook

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Property market robust, but ‘shanty town' policy change a concern China's construction sector – comprising property and infrastructure – accounts for about 50-55% of the country's steel consumption. Over January-May, the property market saw strong growth rates of investment and new starts, amid falling inventories of housing for sale. According to National Bureau of Statistics data, floor space of commercial housing for sale reached 560.10 million square meters by the end of May, down 24% from the peak in February 2016, and the lowest level of available housing since July 2014. The strong property sector over January-May provided firm support to steel demand and prices over the period. Despite record high steel output in the first five months, rebar inventories in major Chinese cities declined by about 50% from the year's peak in early March to endMay. Rebar margins have remained as high as $136/mt on average, indicating the robust health of the construction steel market. Some market sources expected the property market to remain solid or even improve further in the second half of 2018.
机译:房地产市场强劲,但“棚户区”政策发生变化中国的建筑业——包括房地产和基础设施——约占全国钢铁消费的50-55%。在1-5月期间,随着待售房屋库存下降,房地产市场的投资和新开工率出现了强劲增长。根据国家统计局的数据,截至5月底,商品房销售面积达到56010万平方米,比2016年2月的峰值下降了24%,是2014年7月以来的最低水平。1月至5月期间,强劲的房地产行业为钢材需求和价格提供了有力支持。尽管前五个月的钢铁产量创下历史新高,但中国主要城市的钢筋库存从今年3月初至5月底的峰值下降了约50%。钢筋利润率平均高达136美元/吨,表明建筑钢材市场的健康状况良好。一些市场人士预计,2018年下半年房地产市场将保持稳定,甚至进一步改善。

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