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Update Alerts

Caution over reported steel production rebound

20 September 2012

Semi-official statistics released earlier this week suggest that steel production at large mills rose during the first ten days of September. However, we remain sceptical about the accuracy of the semi-official data and also note conflicting data, which suggests that run rates remain lower at smaller producers. Whilst we detect signs that steel demand fundamentals are strengthening, we believe that steel mills need to destock before this translates into better levels of real demand.

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