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China's infrastructure investment push seen set to boost steel demand in Q3

SPGlobal - China's local government special bonds issuance, which is designed to mainly fund infrastructure projects, is expected to gather pace in August, supporting steel demand in the remainder of the third quarter and into Q4, market sources said August 6.

China issued Yuan 2.266 trillion ($326 billion) of new special bonds over January-July, leaving a balance of about Yuan 1.484 trillion ($214 billion) to be issued by year end, according to the Ministry of Finance. The ministry wants the balance to be issued in October.

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