Network Metals LLC

With yesterday’s note about Chinese steel demand in mind, we are hearing from our Chinese suppliers that prices are starting to pick up there, and that there is more of an overall bullish feel to the metals markets. Ultimately we expect that this sentiment will be reflected in the numbers in our bimonthly reports coming up shortly. With LME prices moving up, and raw material prices on the way up as well, it’s hard to determine where the equilibrium is. One thing is for sure: commodity prices and even equity prices can take on a bullish persona while fundamentals still lag. We will keep you posted.