this is definitely happening omb, you just need to wait for the time lag. All the industries that use steel in China are heading into a down cycle, especially construction which is the biggest. Last year housing was still in a boom, this year its collapsing, but all the projects started last year are still being built cause they cant stop half way in. Wait a couple months and iron ore and coking price prices will drop a lot. Only hope is fiscal stimulus which will generate demand for steel used in railway lines and power plants.
