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China steel production cuts set to take effect

2017-10-10 17:32:21
China steel production cuts set to take effect

China’s government will implement some of its strictest cuts to steel production this week as it seeks to diminish winter pollution and further consolidate a fractious industry.

The reduction will cut in half the rate of steel production in the northeastern city of Tangshan, the largest steel-producing city in China, which ultimately will affect 20M metric tons of steel, the equivalent of ~7.5% of national annual production, and three other key steel-producing cities of Shijiazhuang, Anyang and Handan will announce similar cuts.

Meanwhile, prices for low-grade iron ore, one of the key ingredients for steel, have plunged more than 18% in the past month.

From shuixinsteel.com/china-steel-production-cuts-take-effect/