China is closed for CNY for a week. SGX is closed for two days.
Steel profits have improved, and we will probably see a decent rebound in output post-holiday. However, I expect this will only serve to drive steel prices lower amid stalling (and contracting) steel export growth plus weak domestic demand.
On the supply side, we already know of incremental volume growth from the Pilbara, Capanema, and Simandou. You can add this.
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