Shanghai steel cuts losses, stays near six-year high amid curbs

Shanghai rebar futures pared losses on Thursday to close near a six-year peak reached in the prior session on expectations further output curbs in China could keep supply tight in the world’s top producer. On top of ongoing restrictions at industrial plants in many Chinese cities, Beijing is planning to impose production curbs for a
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The nationwide transporters’ strike, which was ongoing at the time of going to press, has resulted in losses of over Rs 10,000 crore and Rs 2,000 crore in Maharashtra alone as lakhs of trucks stayed off the roads, it is learnt. The indefinite strike, called by the All India Motor Transport Congress (AIMTC), commenced on
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Steel and iron ore futures in China extended losses on Wednesday, still pressured by worries over a widening trade spat between Beijing and Washington, although losses were more modest compared with the previous session’s slide. Slower construction demand in China, the world’s top steel consumer and producer, also weighed on steel prices, with iron ore
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