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August 24, 2017

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Shares edge lower

SHANGHAI stocks dipped yesterday, led by decline of steel and energy companies.

The Shanghai Composite Index shed 0.08 percent to close at 3,287.70 points.

Iron and steel companies, non-ferrous metal providers and infrastructure firms were among the biggest decliners yesterday.

Xinyu Iron & Steel Co Ltd fell 6.44 percent to 5.23 yuan (78 US cents), Xining Special Steel Co Ltd lost 5.46 percent to 6.75 yuan and Beijing Haohua Energy Resource Co Ltd shed 4.63 percent to 9.68 yuan.

The China Iron and Steel Association said the price of iron has little room to grow, according to a notice yesterday on its official website.


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