China's new trend pf setting out unwritten rules for its commodities industries and communicating them verbally will be a key method to watch out for in the future, market sources told Fastmarkets.
"Unofficial communications to steel mills are increasingly [coming] via provincial and township authorities [and are], not written out clearly as announcements," an iron ore trader in eastern China told Fastmarkets."The steel mill's output in the first half of the year was slightly higher than the same period last year, so it is likely to cut production slightly in the second half of...