Prices are falling fast for next months ferrous market

This yo yo market is making everything difficult at best

This report from Bloombergs yesterday pertaining to China.

Factory Pickup

Today’s report follows data showing industrial production in September rose a more-than-estimated 9.2 percent from a year earlier, the first pickup in four months. Retail sales climbed 14.2 percent, the most since March, and fixed-asset investment excluding rural households for the first nine months of the year increased 20.5 percent.

Even so, China’s government won’t provide a large economic stimulus and a strong rebound in growth is unlikely, Song Guoqing, an adviser to the People’s Bank of China, said Oct. 18. Still, slowing inflation gives China’s central bank room for “tweaking” monetary policy, said Song, an academic member of the central bank’s monetary policy committee.

“We are starting to see a turnaround in China’s economy,” Donna Kwok, an economist at HSBC in Hong Kong, said in a Bloomberg Television interview. At the same time, China will need to keep rolling out easing measures to secure growth given challenges including “very sluggish” global trade flows, Kwok said.

If China's manufacturing picks up it will really help our scrap metal market.