​China Steel Mill Profits Collapse, Goldman Issues: “Bleak Outlook” For Iron Ore  – Tyler Durden

China Steel Mill Profits Collapse, Goldman Issues: “Bleak Outlook” For Iron Ore  The global commodities market peaked in early 2022 and stumbled ever since. China’s property sector remains in a multi-year slump, resulting in soft demand for base metals like iron ore and copper. Last week, Baowu Steel Group Chairman Hu Wangming warned that the economic conditions in the world’s second-largest economy felt like a “harsh winter.” As the world’s largest steel producer, Baowu Steel’s chairman warned that the steel industry’s downturn could be “longer, colder, and more difficult to endure than expected,” potentially mirroring the severe downturns of 2008 and 2015. This should serve as a major…  — Continue at ZeroHedge News : Read More