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China GDP beat estimates today but it's still unclear what's happening in its steel market

One of the more-interesting mysteries in the global economy right now is why China's steel production remains so high. There is no doubt that residential construction has cratered, yet the mills continue to run at 92% capacity.Today's Chinese GDP data was strong at +1.3% q/q vs 1.0% expected so there may be even more demand in the pipeline.I've written about this before and met coal prices remain strong on China imports.I've heard explanations about shipbuilding, hidden exports and stockpiling f... Read More

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China

Beat

Estimates

Today

It

Still

Unclear

What

What s

Happening

Market

Forex

Posted: Oct 18 2023, 14:52

Author Name: forexlive

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