Monday, May 18, 2009
As we’ve been saying over the past couple of months, things in China don’t seem to be pointing to any dramatic, nearby recovery. Besides the demand that the Chinese government is creating, there is very little dramatic increase in consumption of base metals and steel raw materials going on right now, and we would need to see some more action on the ground in order to change our opinion on that. But for now our sources have been confirming our suspicions: the Chinese government is the only entity creating any real demand at the moment.
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