Industry News

China strengthens output cuts at blast furnaces, but slow construction activity caps price gains

Views : 176
Update time : 2021-06-29 17:32:27

Steel mills in northern China will reduce production at their blast furnaces in the week of June 28 to ensure clean air as the centenary of the founding of the Chinese Communist Party nears.
However, an expected upward momentum in prices aided by the output cuts is likely to be partly offset by slowing construction activity in northern and eastern China, sources said.

On June 28, S&P Global Platts assessed Chinese domestic rebar prices in the Beijing spot market at Yuan 4,900/mt ($759/mt), unchanged from June 25 despite the news of the output cuts.

The centenary celebrations will start July 1 and will be held in Beijing.

Some mills in northern China's Shanxi province as well as the cities of Tangshan and Handan in Hebei province, have been required by local governments to suspend production at all of their blast furnaces from June 29 to July 1, according to some market sources.

Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices