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World's steelmakers fear flood of exports from huge China mills

Despite overcapacity in its domestic industry, lower iron ore prices have encouraged production

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China boosted exports of the alloy by some 50 per cent last year to a record 94 million tonnes, and Western industry bodies see little sign of a major rationalisation of the industry.

Shanghai

PLUNGING iron ore prices are providing a lifeline for some of China's biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the European Union (EU) and countries such as India.

Even as China's domestic steel demand shrinks...

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