stockppiles? many are pointing to record stockpiles. the macquartie research pointed out that whilst stockpiles are high theyre only 1.5 months production. this is at the lower end of the range seen in the past 18 months where stockpile levels were between 1.5-2.5 months produciton.
chinese know that once destocking is complete in the rest of world (2-6 months off) and steel production increases there will then be upward pressure on spot prices.
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