Chinese-produced steel billets are the likely source of the current turmoil in the demolition space, being felt most painfully by cash buyers.
Asian markets have been flooded by exports of the semi-finished steel product due to low iron-ore prices, overproduction and as China’s own stalling domestic growth leaves it with an excess of steel.
Indian imports of Chinese steel products reportedly doubled over the past quarter, while China’s exports are up 40% this year.
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