growth in steel demand is not increasing - the chinese themselves have said their steel demand is now goign to be 800Mtpa - not 900Mtpa.
and thats from CISA - a group that previously trumpeted steel growth more bullishly than the industry
the likelihood is it will slow even more than the chinese expect - because once things built with steel are built the stay built.
china still has a lot more to build - but the pace of that building will slow dramatically
this cycles been repeated numerous times in history - though never on this scale before.
its a mistake to assume demand direction = price though.
when commodities are as soft as they are now - there's all kind of seasonal sloppiness.
its going to be a haven for the likes of Glencore traders to manipulate through a range.
this beast is growing, page-21
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