Global steel price trends aremainly linked with the Chinesesteel market. Chinese steel futuresretreated for a second-straightsession on Thursday last aftertraders bid the commodity up to amulti-year high earlier this weekfollowing news that China wouldextend its steel overcapacity cuts.The world's top steel producer hascut 88 million tonne of steelcapacity this year, nearly doublethe target of 45 million tonne andhelping fuel an 88 percent rally insteel futures.
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