Just when you thought things were looking up for the steel/iron industry in China and for local players like Delong, this fellow came and shingzed the whole party.
Of particular note:
“The iron ore market remains massively oversupplied and steel consumption in China will extend declines this year,” Li said in an interview on Tuesday. On Wednesday, he told a conference in Perth that he sees iron ore prices trading between $40 and $60 a metric ton this year as China’s demand weakens.
God bless you.
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