Another terrifying China steel pile chart

David Llewellyn-Smith

Tuesday 25 February 2020

This time rebar inventory:

Nothing to worry about there. The rebar price has been rising in recent weeks:

A few more weeks of shutdown, which is unavoidable, and that pile will touch the moon.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.