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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

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