Chinese growth sinks from sight
Chinese output data came out yesterday. Industrial production allegedly grew by 5.2%. Turning to steel, output was down 3.7% year-to-date. Pig iron is down 3.1% year-to-date. EAF is once again heading for extinction. Real estate is falling relentlessly. Starts are kaput. Floor area under construction still has far to fall. Prices are still falling, with The post Chinese growth sinks from sight…
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