Chinese excesses raining supply

China is driving global demand alright…but not in the direction so widely predicted.

“It puts global commodities producers in a bad situation as China struggles with excess supplies of base metals, steel and oil products,” Kang Yoo Jin, a commodities analyst at NH Investment & Securities Co., said by phone from Seoul. “The surplus of commodities is becoming a real pain for China and to ease the glut, it’s increasing its shipments overseas.”  See: When it rains it pours, China unleashes commodity torrent

China floods commodities

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