Chinese steel futures closed at all-time highs on Monday, underpinned by robust demand and concerns over production curbs, while benchmark iron ore prices hit record highs, fuelled by structural supply shortage. The northwest Shaanxi province recently urged local departments, as requested by China's state planner and other authorities, to verify local steelmakers' crude steel output in 2020 and explain those whose production exceeded designated capacity or didn't meet it.
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