Texture from Reuters:
“We believe the selling has been overdone,” said ANZ senior commodity strategist Daniel Hynes. “We see prices stabilising at around $90 a tonne in the near term.”
“Steel output curbs in China and ongoing trade tension with the U.S. are the key headwinds,” Hynes said in a note. “These should result in growth in steel production easing from the 10.8% achieved in H1 2019.”
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