Individual mortgage loans in China totaled 36.29 trillion yuan as of June 30, down 3.8%.

According to data released by the People's Bank of China, the outstanding balance of yuan-denominated real estate loans stood at 50.74 trillion yuan (US$7.5 trillion) at the end of June this year, down 4.9 percent year on year, with a net decline of 1.23 trillion yuan (US$0.18 trillion) in the first half of the year. As of June 30, real estate development loans fell to 12.65 trillion yuan ($1.9 trillion), down 8.5 percent year-on-year and down 540.2 billion yuan ($79.6 billion) over the same period. Meanwhile, outstanding individual mortgage loans fell to 36.29 trillion yuan (US$5.3 trillion), indicating a 3.8% year-on-year decline, with a contraction of 716.3 billion yuan (US$105.5 billion) in the first six months of this year.

The ongoing slowdown in the real estate industry continues to put downward pressure on segments rebar and wire rod.

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I graduated from Shanghai University of Science and Technology and have 16 years of experience in the steel industry. I am responsible for steel news and intelligence and also lead the content team in China