ISM: US Manufacturing Grows at Fastest Rate Since 2014

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The Institute for Supply Management said its manufacturing index rose to 57.5% from 56% in January, topping the MarketWatch-compiled economist consensus of 56.5%.

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Any reading above 50% indicates improving conditions.This is the highest reading since August 2014. 17 Of 18 U.S. manufacturing industries reported growth in February.

China Upset About EU Plate Steel Duties

China expressed concerns on Tuesday over what it said was increasing protectionism after European Union regulators imposed new duties on steel imports from the world’s biggest producer.

The European Commission is seeking to protect EU steelmakers while avoiding tensions with Beijing, which it sees as a possible ally against protectionism and climate change.

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It imposed definitive anti-dumping duties of between 65.1% and 73.7% on imports of heavy plate non-alloy or other alloy steel from China on Tuesday, confirming provisional tariffs set in October.

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