China’s steel market is not collapsing despite the property downturn. Instead, demand is stabilising at a lower level as manufacturing, exports and new energy sectors gradually replace construction-driven demand. This is not a demand collapse, it’s a structural shift from property to industrial and export-driven demand. What’s Really Happening The sharp drop in construction activity has clearly hurt steel demand: Property-related steel (like rebar) has fallen significantly Construction’s share of demand is shrinking But the broader market tells a different story: Total steel demand is only slightly below past peaks Manufacturing, shipbuilding and energy transition sectors are absorbing demand Exports are acting as a key buffer Instead of a sudden crash, the industry is entering a long plateau . Why This Matters The market had expected a sharp collapse but reality is more gradual: Demand is declining slowly, not falling off a cliff China is shifting from construction-led growth to ...
KUALA LUMPUR (Nov 29): The FBM KLCI closed lower again today as foreign funds’ month-end rebalancing activities saw most reducing their holdings of Malaysian stocks in their portfolios. The benchmark index ended the day 22.03 points or 1.39% lower at 1,561.74, after having traded within a range of 1,560.72 points and 1,585.70 points, weighed down by Tenaga Nasional Bhd (TNB) — which lost 4.08% to close at RM13.16 after the utility giant was slapped with RM3.98 billion in additional tax assessment by the Inland Revenue Board yesterday. Overall, market breadth was negative with losers edging gainers by 631 to 295 while 332 counters traded unchanged. Total turnover stood at 2.6 billion shares worth RM2.35 billion. The most actively traded stock was Pentamaster Corp Bhd, which succumbed to heavy selling on news that the semiconductor firm has been excluded from the shariah-compliant list. The stock closed 21 sen or 4.48% down at RM4.48, with 136.97 million sh...