China's first-quarter steel demand grew 1.9 per cent from a year earlier, more than expected, an industry group said on Wednesday, countering market views that weak demand has been a key reason for falling prices.
Apparent steel consumption reached 243.42 million tonnes during the first three months, officials from the China Iron and Steel Association (CISA) said in a quarterly briefing, as the world's No. 2 economy lifted tough COVID curbs that had hampered construction activity.
"The demand is better than we had expected; previously we thought it would be flat on year but it posted some growth in the end," said Wang Yingsheng, CISA chief economist.
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