China's steel mill not to cut production as it may impact production permission in 2023
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Update time : 2022-07-15 21:34:58
China Iron and Steel Association (CISA) indicated that China faced the situation of steel supply exceeding demand. Because of the rainy season and hot weather, China's demand for structural steel is low. Although steel demand is expected to recover during the traditional steel peak season, the demand will not be as high as the same season of the previous year.
Apart from that, the global inflation and high energy and raw material cost made most of China's steel mills confront a deficit. However, many steel mills are still unwilling to idle their blast furnace because it might impact the production permission in 2023.
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