Demand is picking up for scrap steel in India.. Lot better than 2008, However Chinese demand is expected to fall as analysts see a W shaped recovery which means the economy will hit another bottom before it grows steady.. No one can predict the world and Asian economy in this stage.. Americans boast that the recession is over but their unemployment rate surge to 9.8% the highest in 26 years.. What does it imply? A jobless recovery? So just by cutting costs the companies show the profits on balance sheet.. Real economy growth should be inclusive of all sectors.. Only then we can see any demand in scrap steel