In the January-September period of this year, fixed asset investment (FAI) in transportation in China totaled RMB 2.51 trillion ($0.37 trillion), increasing by 9.8 percent year on year, as stated by Wu Chungeng, news spokesman of China’s Ministry of Transportation (MOT) on October 28.
In particular, the growth in the third quarter was 15.5 percent, signaling the quick development in the transportation field in the given quarter, which bolstered the demand for steel.
$1 = RMB 6.726