GS: Weakening Steel Demand Shows China’s Economy Is SlowingRupert Hargreaves
China’s steel sector is echoing concerns about the country’s broader economy. While there have been moves by the government to curb capacity, according to a new research note by Goldman Sachs’ commodities division, demand for steel and consequently iron ore is falling in China as the effects of credit led stimulus to wear off.
Earlier this week Chinese rebar prices experienced a bout of volatility on government plans to cut steel mill utilization in Tangshan. The government has announced plans to halt sintering plants andexclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
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