​Chinese Steel Industry Warns Of ‘Flash In A Pan’ Recovery If Mills Ramp Production Amid Severe Slowdown  – Tyler Durden

Chinese Steel Industry Warns Of ‘Flash In A Pan’ Recovery If Mills Ramp Production Amid Severe Slowdown  The official journal of China’s metals industry was correct late last month when it called the 10% jump in iron ore prices that breached $100/ton “irrational” and “lacked fundamental support.” Now, prices trend around the $90/ton handle as China’s top steel industry group warned mills to be cautious in boosting output.  Goldman’s Rich Privorotsky told clients this morning, “Iron ore is dropping to 90, China will continue to struggle, and commodities as a whole, I think, are reflecting the downgrade to growth expectations in the geography.”  The…  — Continue at ZeroHedge News : Read More