China's metal export hit new record. The country delivered record quantities of steel and aluminum in June since producers capitalized on rising commodity prices, reports Reuters.
This may cause worries for the world's largest steel producers. They havet o manage to export more metal, which may increase up to a over-supply. China was previously accused of flooding the market with cheap aluminum and steel.
The United States is threatening to restrict metal imports for national safety reasons. China denies that the country has exported too much metals abroad to the detriment of foreign manufacturers.
Chinese steel production increased last month by 5.7 percent from the same period last year to a record level of 73.23 million tons, like aluminum, which showed slightly higher growth of 7.4 percent. As a result, aluminum production exceeded the record month of 2016 yers December, which was 2.89 million tonnes.
