Delhi CM Atishi’s belongings thrown out from official residence, claims AAP
Manoj Punamiya Marking Milestones In India’s Real Estate Future
How an SIP calculator can help you reach your financial goals faster
Tips on Festive Eye and Lip Makeup Using High-Quality Products
Ratan Tata in critical condition, under intensive care in Mumbai hospital: Report
Mukesh Ambani once spent Rs 10000000 on his car only to get it...
Major setback for New Zealand as star player set to miss start of Test series against India
This train suffered Rs 6 crore loss since its launch, has 200-250 seats vacant daily, it runs from…
'Some ants are...': Harbhajan Singh's cryptic post leaves internet confused
Mastering the Art of Digital Transformation: The Journey of Rahul Saoji
This Apple watch feature saves woman's life, know how it happened
The Innovator's Journey: Ashok Choppadandi's Quest for Technological Excellence
Vedaa OTT release date: When, where to watch John Abraham, Sharvari-starrer action thriller
Hyundai Motor India Rs 27870 crore IPO: Check price band, subscription date and other details
Bhanu Devaguptapu: Navigating the future of health tech and enterprise solutions
Nobel Prize 2024 in Chemistry goes to David Baker, Demis Hassabis, John M Jumper
Breaking the Mold: BHP is Revolutionizing the Supercar Experience
Transforming Test Automation: Narendra Kumar Ale’s Innovative Approach to Integrating AI and ML
This man resigns on first day after joining office, says, 'repeated remarks about my…'
'It’s all about making that unique difference,' says director Ryan Shah
Meet IIT graduate who has joined Ratan Tata's company, to play key role in advancing...
Bigg Boss 18: Meet most educated contestant in Salman Khan's show; was threatened, attacked, jailed
Bigg Boss 18 Grand Premiere: PETA asks Salman Khan to surrender donkey
When Bigg Boss 18's Shilpa Shirodkar made a bold statement in support of sexy dance numbers
Video of leopard trying to enter safari bus after leaping through window goes viral, watch
'October 7 will never happen again': Israel Foreign Ministry vows to 'hunt' every terrorist
Malayalam actor T P Madhavan passes away at 88
Bangladesh Skipper Shanto takes a dig at India speedster Mayank Yadav ahead of 2nd T20i
EPFO to introduce instant SMS alerts to safeguard PF deposits from fraud
RG Kar case: CBI cites blood stain, DNA report as evidence in chargesheet against accused Sanjay Roy
Nagarjuna records statement in Rs 100 crore defamation case against Konda Surekha
Indian man swims 'butt naked' for two hours in Google Maps untraced Australian waterbody
Good news for UPI users as RBI increases UPI Lite wallet limit to Rs...
Mukesh Ambani's Jio offers mega plan, 2GB data per day, unlimited calls at just Rs...
Teacher faces backlash for giving extra marks to students for THIS reason
Woman in wedding dress rides sports bike viral video divides social media
PM Modi launches all-out attack on Congress, calls it 'parasitic party that...'
Baden Bower's PR Services drive EB1A visa success through high-impact publications
Vada Pav vendor claims to earn Rs 2.8 lakh monthly, social media says time to switch careers; watch
Top 10 Indian cities for UPSC preparation
A sweet revenge: BJP orders 1 kg 'Jalebi' for Rahul Gandhi, Congress workers after mega Haryana win
Influencer PERFECTLY copies Deepika Padukone's Singham Again accent, video goes viral
'Fate like Gaza': Israeli PM Netanyahu issues dire warning to Lebanon as Hezbollah continues firing
Omar Abdullah's BIG statement after winning J-K assembly polls, says 'whoever becomes CM...'
Not Anant Ambani but Mark Zuckerberg attended this wedding in India for the first time
'Kha gaye na dhokha'? This metro-themed Durga Puja Pandal is talk of the town! WATCH viral video
Meet man, who quit studies after school, learnt coding, established company worth Rs...
Bigg Boss 18 contestants Vivian Dsena, Chahat Pandey get into UGLY fight, watch video
Shares of this Mukesh Ambani company surged by 12000% in 60 months, market cap rose to...
RG Kar rape-murder case: Doctor’s association to hold nationwide hunger strike today
IND vs BAN, 2nd T20I Dream11 prediction: Fantasy cricket tips for India vs Bangladesh
DNA TV Show: Why Congress lost in Haryana Assembly elections
Bhool Bhulaiyaa 3 to not clash with Singham Again? Kartik Aaryan film might get postponed, says...
Devara box office collection day 12: Jr NTR film fails to recreate Baahubali, RRR magic; earns Rs...
Watch: Virat Kohli, Rohit Sharma flaunt their football skills, video goes viral
Assembly Election 2024 Results: INDIA bloc's first win in J-K, BJP retains Haryana
By raising Rs 17,600 crore, Anil Ambani set for a REVIVAL, here’s how
BUSINESS
Shares of most Asian steelmakers rose on Friday, deflecting the first salvo of a long-anticipated anti-dumping campaign from U. S. President Donald Trump.
Shares of most Asian steelmakers rose on Friday, deflecting the first salvo of a long-anticipated anti-dumping campaign from U.S. President Donald Trump.
Citing concerns about national security, Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs.
In Japan, shares in Nippon Steel rose 1.5 percent, after five weeks of steady losses, partly on speculation any action by the U.S. would mostly target China which is easily the world's largest producer.
South Korean steelmaker Posco followed with gains of over 2 percent.
"Trump is targeting China, although he says the steel import probe has nothing to do with China," said Choi Moon-sun, a steel analyst at Korea Investment & Securities in Seoul.
"Only about 5 percent of South Korea's steel produce goes to U.S., so any impact will be very limited for Posco. China will feel the pain if there is any wider import restrictions."
Trump won many votes in industrial states like Michigan and Pennsylvania with a pledge to boost manufacturing and crack down on Chinese trade practices.
His move diverges from the Obama administration's approach to the issue, which relied largely on filing complaints to the World Trade Organization (WTO).
China is the largest national steel producer and makes far more than it consumes, selling the excess output overseas, often undercutting domestic producers.
Investors in most Chinese producers seemed to absorb the news well, in part because it had been so long telegraphed.
Shares in Baoshan Iron & Steel Co, Angang Steel and Baotou Steel were up anywhere from 0.3 percent to 0.6 percent.
Beijing has long pledged to downsize the industry which is plagued by oversupply from inefficient, high-polluting mills, but has baulked at the potential loss of jobs.
Many Chinese investors seem to favour a rationalisation in production as shares in low-cost producers rally whenever cutbacks are floated.
However, a year-long rally in Chinese iron ore and steel futures prices has slammed into reverse in recent weeks on fears that production is starting to outstrip domestic demand.
Inventories are swelling, adding to fears of a supply glut later in the year.
China's crude steel output reached a record 72 million tonnes in March as mills ramped up output.
Its exports of steel products rose about 32 percent to 7.56 million tonnes in March from February, when they were at a three-year low.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)