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.
