WEEK IN REVIEW: China Suspends Beef Imports From Seven Companies in Brazil, Argentina, Uruguay, and Mongolia

Levi Bianco / Brazil Photo Press via AFP

China will push its steel sector to lower production output to drive up prices. The National People’s Congress was told that restructuring in the sector would be encouraged. The size of the output cuts was not specified. The move comes as many Global South countries have put duties on cut-price Chinese steel. (BLOOMBERG)

The Chinese government announced it would increase its stockpiling of strategic metals, fuels, and agricultural commodities. A report released on Wednesday detailed plans to increase storage facilities. “We will move faster to fulfill the yearly task of stockpiling strategic goods as we work to expand the scale of reserves,” the report said. It will likely increase trade with commodities producers across the Global South. (REUTERS)

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by CGSP Staff

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