China's Iron-Ore Prices Likely to Remain Weighed by Real Estate Weakness -- Market Talk
0555 GMT - China's iron ore futures likely face downward pressure from weaker-than-expected real-estate sector recovery in the world's second largest economy, ANZ Research analysts say. "China's property indicators remain mixed," they say. "Residential property completions and sales are picking up. But new starts are still contracting, which suggests demand for steel is not as strong as expected," they note. Real-estate construction activities are a major source of steel and iron-ore demand in China. The analysts add that property prices are continuing to decline on year in the country, which pose further negative risk for real-estate construction rebound and may consequently weigh on iron ore demand in the coming months. ([email protected])
(END) Dow Jones Newswires
April 26, 2023 01:55 ET (05:55 GMT)
China's Iron-Ore Prices Likely to Remain Weighed by Real Estate...
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