中国基础材料监测（2025 年 11 月）：需求疲软迹象增多-China Basic Materials Monitor_ November 2025_ more signs of weaker demand
2025-11-25 05:06
CHINA BASIC MATERIALS MONITOR November 2025: more signs of weaker demand Summary: End-user orderbooks remained lack luster on the ground, notably sequential deterioration in whitegoods, renewables and construction, beyond seasonality. Infrastructure further weakened with project start rates at multi-year low level, mostly due to challenged fundings from local government. The decelerating momentum from the trade-in program, high commodity prices, may also contribute to weaker demand in others. Auto remained ...