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World’s Steelmakers Exert Pressure on China to Cut Glut

Earlier this week, the United States joined the world’s major steel-producing nations to call for swift action on reducing global steel output — an oversupply crisis that most advanced economies believe is exacerbated by China’s excess capacities. But the international push may not go anywhere because China, which accounts for half of world steel production, can’t afford to risk political and social instability at home while re-balancing its economy, analysts said. That, they...

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