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China’s post-coronavirus construction boom shows signs of cooling as steel output slows

A surge in Chinese steel production to meet a post-coronavirus infrastructure building boom may have run its course for this year, as steel and iron ore inventories pile up and demand for steel declines.The fall in iron ore prices over the past week from a six-year high of nearly US$130 per dry metric tonne in late August signals a slowdown in steel demand, according to analysts. The price of iron ore shipped by sea had fallen to about US$117 per tonne on Wednesday, according to S&P Global…

Read the original article at South China Morning Post

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