What Steel Prices CRASHING Means for the Global Economy

Steel prices are plunging, down a quarter since May at lows not seen since 2016. The chairman of the world's largest producer just said he expects it to get much worse in terms of prices and for industry. The implications are far broader than steel or China. Eurodollar University's Money & Macro AnalysisBloomberg World’s Biggest Steel Producer Warns of ‘Severe’ Industry Crisishttps://www.bloomberg.com/news/articles/2024-08-14/china-steel-industry-in-crisis-as-baowu-warns-of-severe-winterBloomberg ArcelorMittal Cries Foul on Steel Exports From Chinahttps://www.bloomberg.com/news/articles/2024-08-01/arcelormittal-cries-foul-on-china-steel-exports-as-profit-fallsBloomberg Iron Ore Takes Fresh Hit as Concerns Over Global Glut Exact Tollhttps://www.bloomberg.com/news/articles/2024-08-12/iron-ore-in-retreat-as-concerns-over-global-surplus-take-tollS&P Global China's steel output remains strong; downstream outlook still dimhttps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/071524-chinas-steel-output-remains-strong-downstream-outlook-still-dimhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU