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Steel Falls 4%, Aluminum retreats, Canada Oil & India Sugar Crises
Description
Chinese semi-finished aluminum exports reach 3.2 million tons to buffer Western deficits, while China's July steel output falls nearly 4% amid persistent property weakness. In energy, Canadian producers balance 45% pipeline expansion proposals against carbon capture costs, while Santos forecasts a 30% production rebound. Meanwhile, India considers 1 million tons of duty-free sugar imports to curb record domestic prices, Black Sea port strikes curtail European wheat shipments, and extreme summer heat reshapes agricultural labor across Asia.
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