China Construction Materials_What if... China's housing market has bottomed_
2025-02-28 05:14
China Construction Materials Equities View HSBC Global Research at: What if... China's housing market has bottomed? Divergent decline across construction materials: Demand for construction materials, cement, steel and glass is closely linked to real estate, with glass demand most correlated to housing completions, followed by cement and steel, which are tied to housing new starts. Construction materials production trends (a proxy for demand) 2021-24 (exhibit 2) show cement production is down the most, -23%, ...