Signs of a Cyclical Bottom

Bloomberg: China’s Excavator Market Poised for Recovery Says Top Supplier
“Inventories are now nearing zero, meaning the number of units that users want and the amount of production will match. Up till now, demand and output weren’t equal,” Usui said in an interview at the company’s headquarters this week. The 80-year old Japanese firm says it’s the world’s top supplier of excavator cylinders, and makes parts for Caterpillar, and Komatsu’s smaller Japanese rival Hitachi Construction Machinery Co.

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