The Chinese currency
passed the 7-yuan per $1 threshold earlier this month after US president Donald Trump announced plans to impose 10% duties on $300 billion of Chinese imports from September 1.
The Chinese currency was trading at 7.05 yuan to $1 on August 14, as compared with 6.88 yuan per $1 a month earlier.
The weaker currency has enabled Chinese producers to lower their asking prices to entice customers, a trader in Shanghai said.
Market sources in China also cited the recent decline in the price of iron ore as another factor that influenced many buyers to remain...
