Tangshan's 'smaller-than-expected' production cuts dampen steel prices

Tangshan, the steelmaking hub in northern China, will cut 18.59 million tonnes of blast furnace production over the autumn-winter season but participants have said "the much smaller-than-expected cut" means steel prices will not be significantly bolstered over the period.

The production cuts imposed on local steelmakers will last between October 1, 2018 and March 31, 2019 to ensure good air quality during the winter heating season, according to a Tangshan municipal government notice reported by local industry information providers late on Monday November 5. Last year, Tangshan cut around 20 million tonnes of steel output, with the reduction period running from from November 15, 2017 to March 15, 2018. The...

Published

Jessica Zong

Miranda Song

November 06, 2018

04:10 GMT

Shanghai