nev power expects io to rebound over $120 soon, page-28

Nev doesn't control China



http://goldstocksforex.com/2012/09/04/chinas-steel-mills-braced-for-slowdown-ft-com/



Wang Qinghai, chief executive of Shougang, one of China’s biggest state-owned mills, says one reason for slowing steel demand is that China is changing its economic development model. “The investment-led mode of economic development isn’t sustainable, so the government is actively lowering the growth rate?.?.?.?in order to create space for economic structural adjustment,” he said at a conference in Beijing on Saturday. That adjustment is a painful process, however, and Mr Wang summarises the outlook for the steel industry as “huge production capacity, a bleak market, and meagre profit”.