Chinese steel mills mull output cuts due to coronavirus: Platts survey

摘要

More than a third of Chinese steel mills are considering cutting steel production due to rising inventories, a shortage of raw materials and weak downstream demand caused by the coronavirus, according to a recent S&P Global Platts outlook survey. The survey found that 35% of survey participants had already trimmed steel output or were planning to, while 23% said their operations were running normally so far. Some mills had wanted to bring forward maintenance of their steelmaking operations – which is a proxy way of reducing production – but were unable to do so due to lack of workers and equipment.