Asian steel looking strong as China cuts excess capacity

Tokyo

THE trade friction between Beijing and Washington caused by China's alleged dumping of cheap steel in US markets could well be cooling off, analysts have said.

This comes on the heels of the departure of US President Donald Trump's controversial chief strategist Steve Bannon, who had reportedly been pushing Mr Trump to target Chinese steel imports into the US as an example of unfair trade practices.

Analysts are adding that, in addition to Mr Bannon's departure, Moody's endorsing of China's efforts to reduce its excess capacity could also brighten the picture.

And not on…