china steel oversupply

All the signs are looking familiar for bluescope. Last time this happened BSL had to give a several profit downgrades.

China steel supply outpaces demand
Sunday, March 11, 2007 12:06 AM CST
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BY ANDREA HOLECEK
[email protected]
219.933.3316

China's soaring steel production and its steel exports could cause havoc in global markets -- and, many in Northwest Indiana say, with local jobs -- if its excess supply continues to outpace its internal demand, according to industry experts.

China's crude steel output is expected to be 480 million metric tons this year, up 13 percent to 15 percent yearly since 2006, according to U.S. trade data. The country of more than 1.3 billion people in 2006 produced 418.8 million metric tons of steel, an increase of 65.4 million tons from a year earlier and more than three times its 2000 production.


http://www.nwitimes.com/articles/2007/03/11//business/business/doca2197ed5d116312586257299007d142d.txt