Tianjin benchmark up $1.2 or 2% to $60.80. Paper lost most of Friday gains overnight. Steel futures were strong.
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In news, China’s NDRC hosed off growth expectations Friday:
China has forced 28 cities in smog-prone northern regions to reduce emissions of airborne particles known as PM2.5 by at least 15 percent from October to March 2017, with some cities expected to cut steel production by as much as 50 percent.