As was the case last month, sentiment in China remains relatively subdued, with little optimism recorded among producers, traders and consumers. The outlook for the stainless market remains weak and Chinese market participants are looking to the West for a revival in demand. However, it appears they could be clutching at straws. Sentiment in Europe, though somewhat better than in China, is far from bullish. The optimism seen as a result of various stimulus packages has waned and, as we suggested last month, the first negative fallout of the cash for clunkers schemes has been seen, with September proving a very difficult month for automotive firms. However, there may still be a silver lining as larger manufacturers,, including GM and Toyota, are forecasting better times ahead in the final quarter and going into next year; this is, however, countered by Chrysler, which foresees the rest of the year as being "difficult".
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