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Major Steel Mills In N. China Resume Operations With 70% Capacity, But Demand For Iron Ore To Wane hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Major steel mills in N. China resume operations with 70% capacity, but demand for iron ore to wane globaltimes.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globaltimes.cn Daily Mail and Mail on Sunday newspapers.
Steel traders lick wounds as Chinese govt swiftly strikes down prices hike Under the Chinese government’s swift, resolute and concerted efforts to put down a sudden spike in steel prices, a bubble that began to suddenly inflate in early May started to deflate in recent days. While the bubble burst left many who rushed to the feast licking their wounds, industry insiders and analysts said it may take months for the steel market to return to normal. China’s steel prices have experienced a roller coaster ride since May 1. Prices for steel products rose by more than 1,600 yuan ($250) per ton in a span of two weeks, attracting the attention of the highest level of the Chinese government. The government’s high-frequency responses reached a peak on Monday with Chinese Premier Li Keqiang stating that it should be avoided that commodity price hikes are passed down to consumers. Steel prices then plunged, retreating to pre-May 1 levels. ....
Steel traders lick wounds as Chinese govt swiftly strikes down prices hike By Chu Daye, Yang Kunyi, Qi Xijia and Yin Yeping, Published: 2021/05/27 01:30:00 Workers use a crane to transport steel coils at a plant in Hefei, East China s Anhui Province in April. Photo: VCG Under the Chinese government s swift, resolute and concerted efforts to put down a sudden spike in steel prices, a bubble that began to suddenly inflate in early May started to deflate in recent days. While the bubble burst left many who rushed to the feast licking their wounds, industry insiders and analysts said it may take months for the steel market to return to normal. ....