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Print[Ferro-Alloys.com] According to study of Reserve Bank of Australia (RBA), China’s steel demand to residential construction will have peak in 2024 when it is expected to be 30% higher than in 2011.
The study predicts Chinese home building would continue to grow rapidly till 2017 and will not fall below current level till 2030.
There was 1.9 billion square meters of residential floor space built in China last year.
Also, the study also estimates residential construction consumes currently about 14 % of China’s crude steel, the share would grow as buildings become taller and deeper.
According to this study, there is positive outlook for Australia’s iron ore exports, which contribute USD61.4 billion a year for Australia.
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