Chinese Steel Exports Decline In July
- According to FastmarketsAMM, China exported 5.57 million tons of steel in July 2019, including both semi-finished and finished material, a figure that was down from 5.89 million tons in July 2018.
- According to Reuters, Germany’s industrial output dropped 1.5 percent in June – a steeper decline than the 0.4 percent drop that analysts had predicted. The reading raised fears that Europe’s largest economy might be headed into a recession. Construction production declined 1.1 percent while energy output was down 5.9 percent. The German government predicts the nation’s economy to grow by just 0.5 percent this year.