BMI View: Across all types of metals, we expect subdued growth in both production and consumption in Australia as a weakening global economic outlook, notably China, continue to take its toll on Australia’s commodity driven economy. While significant additional global monetary stimulus should help to boost metal prices in the near term, the bout of loosening measures will be insufficient to stem the slowdown and the medium-term outlook for metals remain weak. The slowdown in the metals industry in Australia is best exemplified by monthly crude steel production, which has continued to slide into negative territory following growth in 2010. …
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