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It's been reported: According to government statistics, China continues to remain as the largest steel supplier to India, followed by Japan and South Korea. The steel imports from China had accounted for 36% of the total steel imports by the country during 2014. The latest data shows that Chinese steel exports to India surged higher by 62% year-on-year during April this year.
Details>>The devaluation of Chinese currency against dollar is likely to boost steel exports out of China, noted American Iron and Steel Institute (AISI). In a press release issued by Thomas J.Gibson, President and CEO, AISI, the association noted that the decision by the Chinese administration is a clear indication of the government’s active role in manipulating the country’s currency in order to create a favorable export market for their products.
Details>>It's been said: major Chinese stainless steel makers have announced their decision to lower the domestic prices for various products for the month of August. The steel makers who have decided to cut their prices include Baosteel Stainless. Meantime, Taigang Stainless, the largest stainless producer in China has decided to keep the August prices unchanged.
Details>>US reports: steel imports continued to decline in June, falling by 10.3 percent from May and 15.6 percent from a year earlier.
Details>>Saudi Arabian tubemaker Saudi Steel Pipe (SS Pipe) has announced net profit of 23.46 million riyals ($6.3 million) for the second quarter of 2015.
Details>>The clinching of the Iran nuclear deal in Vienna on Tuesday July 14 paves the way for the islamic republic’s re-emergence in the global oil market – if the deal gets past its many opponents.
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