Rebar futures have just scraped into the green today.Another...

Rebar futures have just scraped into the green today.

Another disturbing article on China's steelmakers. Hard to see how this is sustainable:

http://www.businessweek.com/news/2012-07-31/chinese-steelmakers-profit-tumbles-96-percent-on-lower-demand-prices

"Aggregate profit of the nation’s steelmakers was 2.39 billion yuan ($375 million) in the period, Zhang Changfu, general secretary of the producer-funded China Iron and Steel Association, told reporters today in Beijing, without providing an aggregate year-ago figure. Profit margins shrank to 0.13 percent from 3.06 percent a year ago, he said at the association’s quarterly press conference. "