China steel output seen near record levels despite capacity cuts

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China has embarked on cuts in production in its largest steel-making city of Tangshan to check pollution, but its overall output will likely still remain near last year’s record levels, senior market analyst Hongmei Li, Editor of Mysteel Global, told Biman Mukherji in an interview. “In Tangshan, around 23 mills have been asked to cut capacity utilization by […]

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COMMENT-As steel prices head south, India may like to thank China

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New Delhi would without doubt be cheering Beijing’s crackdown on polluting steel mills towards the end of this week. The single action by China’s government has sent skyrocketing iron-ore prices crashing, which will translate into lower prices of the most important steel-making ingredient for Indian steel mills as well. New Delhi has been so troubled […]

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Weekly Wrap – “Don’t raise taxes to pay for Covid”

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A day after Britain announced plans to raise its corporation tax on big companies to 25% from 19%, the first hike in nearly half a century, the Organisation for Economic Cooperation and Development (OECD) asked countries to avoid tax hikes to tackle the COVID-19 crisis. “Don’t raise your taxes to pay for COVID,” OECD head […]

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