More bad news from China

Super B · May 20, 2012, 23:59

http://www.cnbc.com/id/47498211

Respectfully submitted without commentary.

**Thorack** · May 21, 2012, 02:30

Uh-oh,

Doesnt bode well for the rest of the world.

Thorack

Super B · May 21, 2012, 05:10

OOPS! Heres more. Looks like a double Whammy

http://www.cnbc.com/id/47497958

gates · May 21, 2012, 10:11

I don't think this should surprise anyone - the European and American consumers are maxed out and are not consuming at the levels they were in '07 - China is and was geared to mfg and export at unsustainable levels, they will adjust - thats what you are seeing in those reports, the result of substantially (sustainable) reduced world wide demand for their exports - welcome to the new normal. Unfortunately for the Chinese they relied on mercantilism for their GDP growth, if they can't spur internal demand they are fuked.

**2barearms** · May 21, 2012, 20:33

We're getting calls from Chinese Stainless sales people direct, very
unusual.

Getting metals prices back in line with reality would not be a bad thing.
A36 carbon steel has been hovering around .60 a pound for some time now,
when the norm is around .30 to .35. Maybe copper and brass thieves
will take a beating too. I've noticed the scrap yards are piled up and the ones
owned by Chinese in particular are piled high. some due to excessive buying
but after reading these I'd say prices are headed down big time.

May 20, 2012, 23:59	#1
Super B Registered FALaholic #: 404 Join Date: Jul 2000 Location: Tallahassee, FL,, USA Posts: 1,653	More bad news from China http://www.cnbc.com/id/47498211 Respectfully submitted without commentary. __________________ There's nothing more dangerous than a colossal, bankrupt, and well-armed government---Porter Stansberry

May 21, 2012, 02:30	#2
Thorack Acquisition Corp Dude Bronze Contributor FALaholic #: 748 Join Date: Aug 2000 Location: Omaha, Nebraska, USA Posts: 5,869	Uh-oh, Doesnt bode well for the rest of the world. Thorack __________________ 1. Whenever you are talking to a woman realize this person was born insane and you will never be surprised. 2. Never let Doctors cut on you unless its life or death and ALWAYS get a second opinion.

May 21, 2012, 05:10	#3
Super B Registered FALaholic #: 404 Join Date: Jul 2000 Location: Tallahassee, FL,, USA Posts: 1,653	OOPS! Heres more. Looks like a double Whammy http://www.cnbc.com/id/47497958 __________________ There's nothing more dangerous than a colossal, bankrupt, and well-armed government---Porter Stansberry

May 21, 2012, 20:33	#5
2barearms 3 Percent Silver Contributor FALaholic #: 13866 Join Date: Mar 2004 Location: Houston,Texas Posts: 8,748	We're getting calls from Chinese Stainless sales people direct, very unusual. Getting metals prices back in line with reality would not be a bad thing. A36 carbon steel has been hovering around .60 a pound for some time now, when the norm is around .30 to .35. Maybe copper and brass thieves will take a beating too. I've noticed the scrap yards are piled up and the ones owned by Chinese in particular are piled high. some due to excessive buying but after reading these I'd say prices are headed down big time. __________________ "Owning a Firearm doesn't make you Armed any more than owning a Guitar makes you a Musician" Was mich nicht umbringt macht mich stärker

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May 21, 2012, 10:11	#4
gates Registered FALaholic #: 129 Join Date: Jul 2000 Location: phx az Posts: 10,429	I don't think this should surprise anyone - the European and American consumers are maxed out and are not consuming at the levels they were in '07 - China is and was geared to mfg and export at unsustainable levels, they will adjust - thats what you are seeing in those reports, the result of substantially (sustainable) reduced world wide demand for their exports - welcome to the new normal. Unfortunately for the Chinese they relied on mercantilism for their GDP growth, if they can't spur internal demand they are fuked.