Slow down in China steel shops
Slow down in China steel shops
(OP)
Sorry, this is not a technical topic, but I am sure it holds interest to most of us. The yuan devaluation by 3.5% has shaken the world markets. But, more is happening in those large mills and foundries, which are affected. I read on the net, that the local government is artificially supporting these industries presently.
Africa, is flooded with Chinese equipments and people. (not liked by the locals due to poor performance/reliability)
I shall be interested if some of our members have direct information about the status of steel plants in China.
Thanks in anticipation.
Africa, is flooded with Chinese equipments and people. (not liked by the locals due to poor performance/reliability)
I shall be interested if some of our members have direct information about the status of steel plants in China.
Thanks in anticipation.
"Even,if you are a minority of one, truth is the truth."
Mahatma Gandhi.





RE: Slow down in China steel shops
RE: Slow down in China steel shops
There are a lot of unanswered questions.
The very poor performance of Chinese regulators concerning the plunge in the stock market has shaken things up a lot.
Devaluing the currency is a very expensive route. It distorts prices and destroys good will. This move set back global acceptance of the Yuan at least 5 years. But they can't let businesses close of fail, unemployment leads to hunger, which leads to political instability.
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P.E. Metallurgy, Plymouth Tube
RE: Slow down in China steel shops
Cheaper Chinese products in the international market, will have to be seen. The GDP of China is 7-7.5%, down from the 2 digit numbers.
"Even,if you are a minority of one, truth is the truth."
Mahatma Gandhi.
RE: Slow down in China steel shops
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P.E. Metallurgy, Plymouth Tube
RE: Slow down in China steel shops