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"Its indisputable that the steel industry is oversupplied," said Sheng Genghong, general manager of Baosteel Zhanjiang Iron & Steel Co. "But the development of transport and advanced equipment manufacturing industries will create demand for more quality steel products, which are in short supply." Shanghai-based Baosteel has billed the Zhanjiang project as a "key battlefield" for its "second pioneering" as the company seeks to cut 30 percent of its capacity in its hometown. abercrombie brasil Morgan Stanley analysts yesterday cut their forecast for EU car demand this year to a decline of 6 percent from a drop of 4 percent previously, warning that weakness in southern European markets like Spain and Italy was spreading northwards. http://www.princesadasbat...llister-brasil/ "You can't call this a blowout quarter so far," McMillan said.