I think you need to look at what is happening with Evergrande and the other developers. They depend on deposits for forward sales but for obvious reasons people don't want to buy new properties so demand is falling off a cliff. This is why there will be less demand for steel, the property developers account for 35% of Chinese steel production.
I think you need to look at what is happening with Evergrande...
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Last
$26.67 |
Change
0.350(1.33%) |
Mkt cap ! $81.73B | |||
| Open | High | Low | Value | Volume |
| $26.79 | $26.79 | $26.44 | $51.22M | 1.923M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 2692 | $26.67 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.68 | 4124 | 15 |
View Market Depth
| Last trade - 13.33pm 07/05/2024 (20 minute delay) ? |
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Last
$26.65 |
Change
0.350 ( 1.67 %) |
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| Open | High | Low | Volume | ||
| $26.76 | $26.79 | $26.44 | 327517 | ||
| Last updated 13.52pm 07/05/2024 ? | |||||
| FMG (ASX) Chart |