After peaking in March, monthly Chinese steel production recovered to fresh record lewis in July, according to data released by the International Iron and Steel Institute (IISI) (see Indicators, p62). Chinese steel production remained resiliently high between these months, but there seems little coincidence between this renewed uptick in production and the rebound of the BDI in June, or the renewed surge of the leading Capesize market in April and May as China dace again began to suck in raw materials.
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