Baosteel Expects Infrastructure to Strongly Support China’s Steel Demand

SEATTLE (Scrap Monster): Baoshan Steel 600019.SS said on Wednesday it expected China’s steel demand to find strong support from both traditional and new infrastructure sectors in the last quarter of this year and in the coming year, supported by the latest stimulus.

China’s top parliament body has approved a bill that will allow local governments to front load part of their 2024 bond quotas and issuance of new sovereign debt, state media said on Tuesday, in efforts to bolster the economy.

Courtesy: www.hellenicshippingnews.com