Asia “awash with Chinese steel”

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Via Nikkei:

Global crude steel output for the six months through June rose 4.9% on the year to an all-time high of 925.06 million tons, World Steel Association data released Friday shows.

As China lifted infrastructure spending to shore up its economy, the country’s steel output grew 9.9% to 492.16 million tons, outpacing the global average.

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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.