In commodities news, Macquarie's China steel sector survey for July shows improved sentiment across 40 steel mills, 30 steel traders & 30 iron ore traders interviewed. The broker also notes that base metals tracked Asian equities lower on Monday after China issued an ultra-urgent notice of a nationwide audit of local government debt. Furthermore, latest high frequency CISA data says Chinese daily crude steel production was 2.13mt in the mid 10 days of July, up 2.3% from the previous 10 days.
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