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It is reported that the World steel prices have dropped by 37%, beginning to pick up in early this year. According to the Iron and Steel Research Institute data showed that World steel prices will will be up from US$305/ton in January to US$330/ton this year.
The main reason is Chinese has reduced steel production capacity, in order to sustain the steel prices go up. In the past few years, Chinese steel production remained overcapacity, resulting in world steel prices fell to 10-year record low.
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