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China's warm start to winter heats up Chinese steel, mill profits

Reuters  |  SHANGHAI 

By Ruby Lian and Josephine MasonSHANGHAI (Reuters) - A warm start to the winter has boosted steel prices and margins for mills in China, the world's top producer, as the higher temperatures have allowed projects to proceed that would normally have come to a halt.The delay in the seasonal drop-off in demand from the construction sector has prolonged a year-long rally in steel prices and pushed profits to their highest since at least 2008. The steady demand has exacerbated a supply shortfall caused by mills in 28 Chinese cities cutting their blast furnace output by as much as 50 percent to meet ...

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First Published: Wed, December 06 2017. 15:14 IST