Steel Is the Poster Child For Oversupplied Commodity Markets, and It's in Shambles
Output has far exceeded demand.
Steel yourselves for this.
Photographer: Doug Kanter/BloombergThis article is for subscribers only.
The collapse in oil prices following the shale revolution has stolen the limelight for investors mulling the end of the commodities supercycle.
But the real "poster child for problems in commodities markets is perhaps the global steel industry," according to Macquarie analysts led by Colin Hamilton, the firm's global head of commodities research.