On September 13, the Reserve Bank of Australia (ReserveBankofAustralia) steel for residential construction in China will continue to rise and exceed the expected peak.
In an article in the September briefing, the Reserve Bank of Australia said, "the prospects of the steel market is not only dependent on the building."
Reserve Bank of Australia, said that in China, the rapid increase of the use of vehicles could prompt indoor parking space requirements increase, the increase of population density may also require higher buildings.
"For these reasons considerations required for steel demand is likely to decline, even in residential construction in the next few decades, the overall demand for steel can not be the same magnitude of decline." RBA expects Chinese steel demand will reach its peak in 2023 .
China is Australia's largest trading partner, it is expected that China's demand for Australian iron ore and coking coal will continue to increase.
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