Just want to take the chance to thank Bungi for letting me aware bloomberg charts for many indicators, such as chinese steel production, chinese port iron ore stockpile etc.
If you look at chinese 2011 steel production, it would show an YoY increase, but this is misleading as most of the production occurred in the first part of the year while the tail end dropped off significantly.
As this chart would illustrate. http://www.bloomberg.com/apps/quote?ticker=IISICHIN:IND
The price for steel is showing a similar trend as production, it fell in oct and is staying subdued. So given that the Chinese steel sector as a whole is near zero margins or making loss on production, what is there to come?
Bloomberg steel price chart (HR steel is a reference benchmark for other steel products) http://www.bloomberg.com/apps/quote?ticker=CDSPHRAV:IND Don't like HR steel, well here's one of CR steel. http://www.bloomberg.com/apps/quote?ticker=CDSPCRAV:IND
If you want a quick glance at other relevant figures, this report gives iron ore stockpile/price and HR steel stockpile/price for China.
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