China's steel distribution set for change
Dec 12, 2012 | 11:54 AM
SHANGHAI The steel price crash in China that rattled global steel markets earlier this year exposed just how turbulent Chinas markets can become when the countrys growth slows and the government doesnt step in with a credit and investment boost.
It also revealed the chaotic nature of the countrys steel trade, something that steelmakers are beginning to address more seriously by changing the way they work with traders and developing more channels of their own to sell steel.
Chinas steel market began to weaken in April and then slumped during the third quarter amid deepening concerns about a slowdown in economic growth, as well as a sharp turndown in the construction sector after the government moved to deflate a property bubble. The bear run appeared to be exacerbated by the concentration of price risk in Chinas sprawling and fragmented network of intermediary steel traders. ....
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