Shandong's Environmental Protection Bureau said it would cut pig iron production capacity by 600,000 tonnes and crude steel by 3.55 million tonnes by the end of this year.
Trump has reportedly rejected a plan to levy tariffs of 10 percent on an additional $200 billion of imports from China and ordered aides to prepare a proposal for tariffs at the higher rate of 25 percent.
Canadian microbreweries are facing a shortage of cans and higher costs, forcing some to cut beer production after the country imposed retaliatory import duties on U.S. aluminum imports in the busy summer season.
Starting on July 30, the LME will start providing a set of synthetic monthly prices for the six main base metals — copper, aluminum, zinc, lead, nickel and tin.
Donald Trump’s attempts to re-balance global trade have already sent the metals world into a tizzy and as countries respond to U.S. tariffs and sanctions, the disarray is set to increase.