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China recovery drives commodity prices higher in Asia

Rebound in steel and chemicals has buyers stocking up

Workers load steel products for export onto a cargo ship at a port in Lianyungang, Jiangsu Province, China, on May 27.   © Reuters

TOKYO -- Prices of steel, petrochemicals and other commodities have rebounded in Asia, with China leading the way after its containment of the coronavirus outbreak has allowed business activity to resume.

Hot-rolled steel, widely used by automakers and other industries, has risen to $455 per ton, compared with $435 in April, a three-and-a-half-year low.

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