China is pumping billions into infrastructure — but commodity markets were not impressed
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Update time : 2022-08-26 22:00:24
China’s State Council announced more stimulus policies on Wednesday including an additional 300 billion yuan ($44 billion) in quotas for infrastructure spending and investments by banks — on top of the 300 billion yuan already announced at the end of June.
“While the additional infrastructure stimulus was welcome news, high-frequency data continues to show us just how poor construction steel demand is in China,” said Atilla Widnell, managing director at iron ore intelligence consultancy Navigate Commodities.
Entering the Chinese New Year holiday, market trading is sluggish
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