In January -July of this year, China began new construction work on the reconstruction of 19,800 old city quarters, as announced by the Ministry of Housing and City and Rural Development of China (MohURD).
The complete goal of the reconstruction in 2025 is 25,000 old city quarters. Last year, 58,000 projects for the renovation of old city residential quarters were implemented.
The reconstruction of the old quarters was one of the factors stimulating the demand for steel in recent years. On August 25, the city of the first level of Shanghai issued a stimulation policy to stimulate the real estate industry, including the removal of restrictions on the purchase of houses outside the external ring (mainly in the suburbs) and reduce interest rates on housing loans, which will have a positive effect on the steel market.
