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Opinion
David Fickling

Chinese Steel's Biggest Problem Isn't Trump

Soaring material costs and a poor demand outlook are far bigger concerns than U.S. trade protectionism.

If China's steel producers are casting around for something to worry about, they need look little further than the share prices of their U.S. rivals.

U.S. Steel Corp.'s 17 percent jump on Wednesday was the stock's strongest gain since March and the sixth-biggest in 25 years of trading. Nucor Corp.'s more modest 12 percent advance was still its best result in more than seven years.