Charts of the Day: Property Slump Can’t Stop China’s Steelmakers

Despite the continuing slump in real estate development in China, steel output, long considered a barometer of the property market’s health, has picked up over the past few months and has exceeded 2019 levels every month this year.

Crude steel output in August and in the first 10 days of September was both higher than the corresponding periods in 2022, 2021 and 2019, estimates from the China Iron and Steel Association show.