1. Global steel output up 5.3 percent in 2017 as economy powered ahead. Global crude steel output rose 5.3 percent last year, as the global economy powered ahead, with growth in top steel producer China steadying despite government efforts to tackle debt and pollution.
2. Iron ore stocks at Chinese ports hit an all-time high. Iron ore inventories at major Chinese ports rose sharply in recent weeks and reached an eye-watering 153.6 million tonnes at the beginning of this week, up 10.2 million tonnes or 7.1% month-on-month.
3. India opens new ports for used steel imports. India has increased the number of ports that can handle imports of non-prime steel to a total of six, with the addition of three new ports, the ministry of commerce and industry said.
4. U.S. crude stocks fell for a record 10th straight week as levels at the Cushing, Oklahoma hub continued to draw down to three-year lows, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.
5. Zhanjiang Port once again reached the top 10 in China for cargo throughput, leveraging the Hong Kong Merchants Group's advanced management concepts, operational networks and other resources.
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