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Yuan slump spells more gloom for steel, aluminium producers

Export of metals from China, which is already surging due to domestic surplus, will gather steam as prices fall

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China's steel shipments surged 27 per cent to 62.13 million tonnes in the first seven months of this year while prices for hot-rolled steel coil exported from China fell 31 per cent in the past year.

Hong Kong

IT'S just what global producers of steel and aluminium didn't need: a yuan devaluation that makes the flood of exports from the world's biggest producer even cheaper.

China's shipments of steel and aluminium, used in everything from fridges to skyscrapers, surged to a

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