BEIJING: ArcelorMittal SA warned that Chinese steel demand will contract this year due to headwinds facing the real estate sector, in the latest sign of the widening fallout from the China Evergrande Group’s crisis.
China dominates global steel markets as the largest producer and consumer, accounting for more than half of total demand. The real estate sector has been roiled by a debt crisis that’s weighed on economic activity, reducing demand for commodities like steel, at the same time as the country battles an energy shortage.
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