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Despite rally in China, steel and iron ore face worst month

Monday, May 30, 2016 - 05:50

Shanghai steel futures rose nearly 5 per cent after Tangshan, China's top steelmaking city, ordered mills to cut production for five days from Friday to ease air pollution.


CHINESE commodities rallied broadly on Friday in a rare respite from a weeks-long reversal that has hit steel-linked materials particularly hard, with steel and iron ore futures still headed for their biggest monthly falls on record.

Analysts pinned the gains on short-term

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