GS: Weakening Steel Demand Shows China’s Economy Is Slowing

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Rupert Hargreaves
Published on
Updated on

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 and blast furnaces in the Tangshan region to curb steel production and support prices. In...

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Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk