Take physic, pomp

Chart of the day is….

…Brazilian steel consumption, 2008 and 2009 forecast.

According to this report in BNAmericas, the head honcho at the IBS Brazil steel institute says that even in the most optimistic of situations and a 5% GDP growth from 2010, steel consumption won’t return to the 2008 level until 2011. The same dudes are also forecasting a 14% world slump in steel this year and a large supply glut.

By the way, I thought about using the US bonds yield curve as chart of the day today, but you’re probably bored or scared to death by it already so let’s not bother.

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