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Re: alien-IQ post# 318266

Tuesday, 09/07/2010 10:46:36 AM

Tuesday, September 07, 2010 10:46:36 AM

Post# of 704570
China steel production cuts benefits other producers
Sep 7, 2010 9:45:00 AM

China, the world's largest producer and user of steel, temporarily cut its steel production, the result of reductions in electrical power due to efficiency goals. The move affected about 50 mills, boosting prices, and is seen benefiting other steel producers. Even with an oversupply in China, Daewoo Securities analyst Jeon Seung-hun reportedly said, "With Chinese mills shut down during the seasonally busy September-October period, spot product pricing will be good for steel manufacturers."

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