How will the overcapacity in the steel industry effect iron ore prices. Until now the Chinese haven't reduced steel production despite the fact there are mounting stockpiles of steel, so iron ore consumption has remained strong. Is this situation sustainable with so many steelmakers marginal or even loss-making, and demand for steel slowing. China's steel industry is starting to resemble a giant work for the dole scheme. If they were able to redeploy this workforce elsewhere, steel production and iron ore consumption would slow. This represents a dangerous overhang on the steel market. Demand is not real but subject to the whims of the Chinese government. Or was it ever thus...
http://www.reuters.com/article/2012/05/03/markets-ironore-idUSL4E8G31ZX20120503
How will the overcapacity in the steel industry effect iron ore...
-
- There are more pages in this discussion • 48 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add BHP (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$39.35 |
Change
0.535(1.38%) |
Mkt cap ! $200.4B | |||
| Open | High | Low | Value | Volume |
| $39.19 | $39.77 | $39.10 | $174.5M | 4.410M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 2469 | $39.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.35 | 6695 | 19 |
View Market Depth
| Last trade - 13.32pm 13/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |