China's monthly crude steel output fell for a second straight month in July...
BEIJING - China’s monthly crude steel output fell for a second straight month in July, official data showed on Wednesday, as steel mills trimmed output amid heightened environmental measures and record raw material prices.
China’s steel production has been strong this year despite relatively thin margins, supported by firm demand from sectors such as property and infrastructure as Beijing looks to bolster its economy amid a trade row with Washington. Hebei is set to impose tougher emission requirements on industrial firms after warning three cities for their failures in controlling air pollution over the first half of this year.
Steel stocks held by Chinese traders have been increasing for nine straight weeks since early June, indicating weak demand over summer as construction activities slow down due to hot weather and frequents rains.
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