China’s daily steel output rose in January and February as mills in the world’s top producer raced to take advantage of high prices, even as worries mount about a growing surplus and slowing demand from the construction sector. The strong output data on Wednesday helped push prices lower in Shanghai, with rebar construction steel futures hitting their lowest in almost four months, extending their longest losing streak since last summer. The production rise came despite Beijing’s stringent crackdown on heavy manufacturing in 28 of its smoggiest cities as part of its war on winter smog. Those curbs will be lifted in most regions on Thursday, which marks the end of the four-month winter heating season. The data will likely draw international scrutiny after U.S. President Donald […]