China auto sales drop dampen expectations for HRC, CRC demand

China’s auto sales declined for a second month in August on weak consumer demand for hot- and cold-rolled coil compared with past years, and most steel market participants expected this scenario to continue.

The country sold 2.10 million units of vehicles in August, down 3.8% from a year ago, despite an 11.3% monthly rebound, the China Association of Automobile Manufacturers (CAAM) said on Tuesday September 12.

Meanwhile, output also dropped in the world’s largest auto market, with the country producing 2 million units of vehicles last month, down 4.4% annually and down 2.1% monthly, the association said.


Miranda Song

September 13, 2018

16:43 GMT