Steel output cuts halt price declines in China

摘要

Negative margins have forced Chinese steelmakers to cut output by more than 1mn t in August, sending domestic prices higher. More than 30 mills in Shandong, Shaanxi, Shanxi, Gansu, Si- chuan and Fujian have announced maintenance shutdowns that will cut production by at least 1.15mn t of output in August, equivalent to less than 2pc of China’s monthly run-rate.