With scant demand at home, the remaining mills have looked beyond their borders for business. China shipped a record 100 million metric tons of steel overseas in the 12 months ended in February, a 55 percent increase from the previous year.Imagine what else China might puke, and you'll have a good short candidate.
“I’m sure they are happy that at least somebody is buying it, but I don’t think that this is a strategy that Beijing wants to follow,” said Louis Kuijs, the chief economist for greater China at the Royal Bank of Scotland.
The country’s traditional drivers of growth — manufacturing, real estate and local government infrastructure spending — are now among the biggest threats to China’s economy.
Macro Afternoon
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The BOJ meeting came and went without any surprises this afternoon, easing
concerns for Japanese stocks while Chinese issues continue to lift higher
desp...
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