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Optimism for steel recovery overrrated: Macquarie

Economic rebalancing in China causes a material slowdown in the nation's demand for the metal

"With 1.6 billion tonnes of consumption globally, steel remains the lynchpin of industrial growth," wrote Mr Hamilton.

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