Global markets: China boosts steel, aluminium production

By Commodity News Service Canada

WINNIPEG, July 17 – The following is a glance at the news moving markets globally.

– China produced record amounts of steel and aluminum in June, according to reports out of the country on Monday.

Analysts are concerned that those commodities could flood the international market.

– Foreign investment in Canadian securities amounted to C$29.5 billion in May, mainly purchases of government debt instruments. At the same time, Canadian investors increased their holdings of foreign securities by C$4.4 billion, led by investments in US debt instruments, Statistics Canada said on Monday.

– Investment in non-residential building construction in Canada totalled C$12.4 billion in the second quarter, up 0.3 per cent from the previous quarter, Statistics Canada said in a report on Monday.

This increase follows three consecutive declines. Nationally, the gain was the result of an increase in spending on the construction of industrial and commercial buildings. The institutional component declined for a second consecutive quarter, StatsCan said.

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