Via Bloomberg:
“We’re going from one world to another,” Peter Marcus, founder and managing partner of U.S. consultancy World Steel Dynamics, said in an interview in Shanghai. “We’re going to have mercantilism that’s going to promote domestic industries. The U.S. is going to win, and China is going to lose.”
Prices in China could return toward the crisis levels seen in late 2015 before the end of the year, Marcus said Sunday. Annual output may shrink by 100 million metric tons in three to four years as domestic demand slumps by the same amount, and as exports fail to hold their explosive growth this decade, he said. China last year made 808 million tons, about half of world production.
