Optimism for steel recovery overrrated: Macquarie

New York

THE collapse in oil prices following the shale revolution has stolen all the limelight for investors mulling over 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 global head of commodities research Colin Hamilton.

The front-month contract for US hot-rolled coil steel futures tra…