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 ...
Singapore stocks ended Friday with mixed performance, as selective buying lifted consumer and property names while industrial counters lagged.
STI Top Gainers
Top Performer:
DFI Retail Group Holdings Ltd (D01.SG) rose 4.22% to S$4.69
Other notable gainers:
Hongkong Land Holdings Ltd +3.77%
Wilmar International Ltd +1.33%
Jardine Matheson Holdings Ltd +0.77%
Singapore Exchange Ltd +0.55%
Key Point: Retail and property-linked counters led gains, indicating selective bargain hunting.
STI Top Losers
ST Engineering Ltd (S63.SG) fell 2.42% to S$10.88
Other decliners included:
Singapore Airlines Ltd -1.95%
Seatrium Ltd -1.66%
Mapletree Logistics Trust -1.64%
SATS Ltd -1.37%
REITs Movers
Top Gainers
Alpha Integrated REIT +3.30% to S$0.47
CapitaLand India Trust +3.00%
United Industrial REIT +2.48%
Centurion Accommodation REIT +1.90%
CapitaLand China Trust +1.56%
Top Losers
Daiwa House Logistics Trust -2.91%
Far East Hospitality Trust -2.61%
AIMS APAC REIT -2.04%
Digital Core REIT -2.02%
Starhill Global REIT -1.83%
Key Point: REITs showed mixed performance, with selective recovery after recent volatility.
Most Actively Traded
DBS Group Holdings Ltd was the most actively traded stock:
Price: S$55.31
Change: -0.11%
Turnover: S$253.27 million
Other heavily traded counters included:
Oversea-Chinese Banking Corp Ltd
Yangzijiang Shipbuilding Holdings Ltd
United Overseas Bank Ltd
Singtel
Market Snapshot
The FTSE Straits Times Index saw selective gains in retail and property-linked names, while industrial and aviation counters faced pressure.
Overall theme: Stock picking dominated Friday’s session, with DFIRG leading gains while defensives and aviation names softened.
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