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 (Feb 28): Bursa Malaysia ended the last trading day of February with a paltry loss, after the key index swung between gains and losses, as investors seemed to trade cautiously ahead of the release of the purchasing managers indices (PMIs) in the US and China. At 5pm on Tuesday (Feb 28), the benchmark FBM KLCI had fallen 1.31 points to 1,454.19, from Monday’s closing at 1,455.50. The index opened 0.99 of a point higher at 1,456.49, and moved between 1,452.43 and 1,458.97 throughout the day. Market breadth was negative, with decliners thumping advancers 739 to 255, while 307 counters were unchanged, 946 untraded, and 55 others suspended. Turnover, however, soared to 4.63 billion units worth RM3.95 billion, from Monday's 3.09 billion units worth RM2.19 billion.