China steel juggernaut expands Asia turf as market in West fades
South-east Asia's growing appetite for steel is helping to ease a global surplus that sent prices plunging last year
Shanghai
CHINA's steel juggernaut is picking up speed on its home turf.
As governments in Europe and the US limited supplies of Chinese metal they said was dumped on the market, the world's largest producer is expanding exports to its neighbours in South-east Asia. A third of all Chinese shipments now end up in countries such as Vietnam, Thailand and the Philippines, where rapid economic growth is fuelling increased spending on infrastructure including highways, airports and office towers.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Glencore Group nears deal for Shell’s Singapore oil refinery
Opec+ may need to tackle oil capacity conundrum next month
Gold flat ahead of US payrolls data, set for second weekly drop
Oil settles near 7-week lows, focus shifts to economy
Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board
Shell maintains pace of buybacks as profit beats estimates