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"Elimination of outdated capacity has helped boost the overall quality of steel produced and helped balance the market demand and supply," Yu said, adding that the oversupply problem in the industry has almost been solved.

"Factors such as trade tensions between China and the United States, and UK's exit from the European Union, have already resulted in the bankruptcy of an increasing number of companies," said Wang Tingke, general manager of Sinosure.

"Dangerous Hurricane Irma heading for the Leeward Islands," the hurricane center said. "Preparations should be rushed to completion as tropical storm-force winds are expected to arrive in the hurricane warning area by late Tuesday."

"Fettes Guangzhou will be a true reflection of Fettes College internationally, fully adopt our ethos, provide an outstanding academic education, focus on sector-leading pastoral care and introduce a wealth of co-curricular activities to broaden the horizons of all of its students," said Bruce Dingwall, who is deputy chair of the Fettes Trust.

"Due to the global health pandemic, the current market turbulence has dramatically affected market values for the Global 2000 list, which was priced out on April 30," said Andrea Murphy, Forbes statistics editor. "The minimum market value needed to make the universe of companies considered for this year's list was .27 billion, down from .25 billion last year."