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In reversal of fortune, China's low-value steelmakers beat high-end peers


By Manolo Serapio Jr and Muyu XuMANILA/BEIJING (Reuters) - Powered by China's infrastructure push, Chinese construction steel producers are seeing their best profits in years, lording it over their high-value counterparts in a setback for Beijing's years-long drive urging steelmakers to move up the value chain. As its manufacturing engine sputters, the world's second largest economy is increasingly relying on infrastructure spending to boost growth, spurring demand for construction steel products and lifting producer profit margins to near record levels.Combined with recent cuts to ...

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First Published: Thu, June 15 2017. 10:16 IST