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China steel hits 3-1/2-month low after Trump's tariffs, iron ore down 5 percent

Reuters  |  MANILA 

By Manolo Serapio JrMANILA (Reuters) - Chinese steel futures slumped to their weakest since November on Friday after steel and metals associations in China called on Beijing to retaliate against the United States for slapping hefty tariffs on steel and aluminium imports.Steelmaking ingredients - iron ore and coke - were also sold off, each dropping about 5 percent. While steel shipments from China account for a small portion of U.S. steel imports, any retaliatory action from China and other countries would not bode well for the global economy, analysts say.The Chinese steel and metals ...

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First Published: Fri, March 09 2018. 13:35 IST