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China Central Gov. plan to reduce excess Steel capacity.
Old 02-05-2016, 08:53 AM   #1
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China Central Gov. plan to reduce excess Steel capacity.

This is good news for producers worldwide. Better late than never. IMO.

China lays out plan to reduce steel capacity - MarketWatch




Edit-Mods:I'm not sure this is the right forum for this thread, feel free to move it.
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Old 02-10-2016, 07:07 PM   #2
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Politically this is very difficult for them as a significant % of that workforce work for government owned businesses.
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Old 02-14-2016, 07:18 AM   #3
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Also worth looking at the relationship between commodities and banking/investing.

I think there was a lot of weird stuff going on. That is mining and commodity companies using the raw materials as leverage to invest in various investment schemes that appear to be unraveling. So when prices decline they had to stockpile more to avoid margin calls... you can imagine how that ends.

I wasn't able to understand the facts or depth very well so I just stay away. China is tough to understand partially because the regulators (government) are also the owners... and we know how well that kind of oversight works out

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Old 02-16-2016, 06:49 AM   #4
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Thank you for that link. Bought steel stock a few years back, sitting at -80%

Just when it hit bottom, it got worse .. overcapacity worldwide first, then Chinese dumping.

There is a big push right now in Europe where employers, unions and workers are pushing politicians to put in trade barriers. Steel specifically, some other commodities too.

Likely this a reaction from China to avoid economic sanctions.
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Old 02-29-2016, 08:07 PM   #5
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Saw this story today China to cut 1.8 million jobs in coal and steel sectors--DJ - MarketWatch Not sure % of industry jobs affected.
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Old 03-01-2016, 04:30 AM   #6
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About 15% of the workforce according to Reuters:

China expects to lay off 1.8 million workers in coal, steel sectors | Reuters

Just bought me some extra European steel stock.
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Old 03-11-2016, 04:44 AM   #7
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ArcelorMittal on a rampage. +35% in a few days.

I'm sure other steel stocks are on a similar spree. Posco for example had a runup from 32.31 to 45.63 since january.
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Old 03-20-2016, 06:25 PM   #8
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Ouch ! for those affected

China shifts axed miners to lower-paid jobs in farming, cleaning | Reuters
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