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Chinese steel output set for ‘remarkable’ rebound

Hellenicshippingnews - China’s steelmakers are confident the industry will bounce back strongly after the coronavirus downturn, echoing a forecast from the world’s two largest metal ore miners.

Weakened demand for the alloy will forge a strong recovery in the second quarter as new investment in production infrastructure begins and the industry resumes operations after the coronavirus downturn, the China Iron and Steel Association (CISA) said in a statement Wednesday.

CISA official He Wenbo forecast the quarter-on-quarter growth would be “remarkable”, citing stimulus from demand-side plans, including renovation projects of old urban residential areas and enhanced investment into “new infrastructure”.

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