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17 May
17:54

China's lockdowns influence ore inventory build-up, prices: Roper

Chinese steel prices should surge on pent-up domestic and export demand released once Covid-19 pandemic controls are eased, Kallanish understands. China’s ability to lift output is limited though as many Chinese steel mills have drawn down inventories of raw materials, especially coke, says Ian Roper, commodity strategist at Astris Advisory Japan and Kallanish Consulting Services. Assuming that Black Sea exports are lower by 30 million tonnes and factor…
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