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JP Morgan announced in its report yesterday that “The Stimulus Package‿of Chinese government would help iron and steel demand to recover by the second half of year 2009.

It’s also predicted in the report that steel price would rebound from the bottom in the first quarter of next year.

Analysts indicated that present stage should be the most difficult period for steel industry and mills still need a period of time to recover due to high stock and blurred market environment. But with the hopeful governmental economic incentive plan and effective measure of production cut by steelmakers, the steel industry is likely start to rebound by second quarter of 2009.

http://www.wintang.com/shownews.aspx?id=4588

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Technorati Tags: China Industry, China Steel, Chinese Government, Difficult Period, Economic Incentive, First Quarter, Incentive Plan, Iron And Steel, Iron Steel, Jp Morgan, Market Environment, Period Of Time, Q2, Second Half, Second Quarter, Steel Demand, Steel Industry, Steel Mills, Stimulus Package, Stock