Easing curbs in Tangshan would help stabilize iron ore prices
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Update time : 2021-06-02 22:47:48
The steelmaking city of Tangshan in North China's Hebei Province reportedly plans to ease restrictions on steel production. The local authorities held a symposium on Monday, mulling over plans to lower output curtailment ratio for some mills that had completed ultra-low emission upgrades, according to media reports.
Should Tangshan implement the plan to ease production cuts, it would be an adjustment from the production limits that were implemented in March. At the time, several local steel mills were required to curb production as part of efforts to reduce pollution. As some enterprises have completed the evaluation of ultra-low emission transformation, it is normal market adjustment to increase industry production. However, this does not mean that China will relax its environmental protection efforts.
Since the beginning of this year, the prices of some bulk commodities have risen sharply, with the prices of some varieties hitting record highs. The iron ore futures on the Dalian Commodity Exchange has been surging from 920 yuan ($144.2) a ton at the beginning of April to the peak of 1358 yuan a ton on May 12.
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