The metal market is facing deflation

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The metal market is facing deflation, and the uncertain outlook for global economies has led to a loss of confidence among consumers worldwide. The downturn in the manufacturing sector and rising unemployment rates will undoubtedly slow down the pace of economic recovery. Looking ahead to the metal market in 2009, a significant decline in demand is inevitable; if production cuts are not implemented in a timely manner, the surplus situation could worsen further. Farewell to the turbulent year of 2008, the world stepped into a new year amid numerous crises. The difficulties facing the global economy and the further consequences are difficult to estimate. With confidence shattered, the path to economic recovery is long and arduous. Regarding the basic metals market, constrained by changes in the external environment, the metal industry will inevitably face deflation in 2009.