China steel market shrugs off new property restrictions
Mar 07, 2013 | 10:28 AM
SHANGHAI Chinas latest restrictions on the property market might have rattled property stocks and the steel market earlier this week, but they could have less impact than first feared, market participants told AMM sister publication Steel First.
Markets initially were thrown by the new policies, including a 20-percent capital gains tax intended to snuff out a speculative buy-to-sell boom before it starts.
If the moves really amount to a serious challenge to the property and construction sectors gradual recovery, it would be bad news for steel.....
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