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Mysteel: Sharp output cuts needed to buoy up steel prices
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Date:[6/20/2013] Source：Shandong Hai Steel Co.,Ltd
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Mysteel: Sharp output cuts needed to buoy up steel prices
China's steel market has been featuring high output, lofty inventory, and low profit year to date. Since Feb, daily crude steel output kept running up, once hitting a lifetime high of 2.208 mln tonnes and having been stayed above 2.15 mln tonnes for three straight ten-day sessions. That resulted in heavy pressure on the supply side and weighed on steel prices.
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