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Aside from the price drop, the industry is also affected by the trade war between the U.S. and China.
The country's energy industry needs help from its local producers to secure its commodities.
China retaliated with new tariffs on American imports as a counter to the tariffs imposed by the U.S. on Chinese steel and aluminum.
The U.S. is imposing tariffs on about $60 billion Chinese imports, which prompted China to retaliate with its own tariffs on US products.