China’s real estate crisis is now directly impacting other sectors of the Chinese economy. Although the property implosion is affecting trade in a variety of construction materials, its first aftershocks may have been felt in the cement and steel industries. In 2022, according to official data, a whopping 336 Chinese construction companies filed for reorganization bankruptcy. This worsened the crisis in the construction materials industry and led to inevitable price wars. Steel and cement are in severe oversupply as development stalls. Meanwhile, price wars within China have extended overseas, affecting the global market. The total economic fallout from the crisis is unknown at this point. While its impact on the global materials market is relatively limited in the cement sector, it is more pronounced in the global steel market....Read more https://www.theepochtimes.com/china/shockwaves-from-chinas-real-estate-implosion-hit-steel-and-cement-industries-5507169