3 ms·

It will move the other way in a year very soon

• nradov 3y ago
  With the collapse of Evergrande and other large Chinese real estate developers, who will buy all of that steel?
• JumpCrisscross 3y ago
  > will move the other way in a year very soon China is grappling with deflation [1]. It is likely they’re in a recession, at least in sectors relevant to housing demand. Given the state of regional government and developer finances, I don’t see where this de novo steel comes from. [1] https://www.cnn.com/2023/11/09/economy/china-deflation-october-consumer-prices-intl-hnk/index.html https://www.cnn.com/2023/11/09/economy/china-deflation-octob...
  • andyferris 3y ago
    Probably worth mentioning China kept buying the iron ore (it seems out of need), so this isn't about steel. Trade of coal and many other goods were restricted; there is now an anticipation that exports of wine, coal, lobsters, etc will rebound.