Chinese steel industry would cut production by end October - Shagang

According to Mr Shen Wenrong chairman of Shagang said it is expected that the whole steel industry will cut outputs in end October...

Jiangsu  [China]

HomeNewsChinese steel industry would cut production by end October - Shagang144

According to Mr Shen Wenrong chairman of Shagang said it is expected that the whole steel industry will cut outputs in end October. In the future two three months the heavy overcapacity and low steel price will force China steel industry to appear to large scale production suspension. Industrial analyst noted that the industry presents some signs of production reduction in the name of overhaul. And, there is lots of news recently about the overhaul which always carried out in dead season in the industry in September part of traditional mid season. The analyst said some mills have been close to the brim of losses and some others already experiences deficits. Those, who still make profits, post a limited quantity. Baosteel price policy, the wind vane in the industry was released on October 12th. Baosteel made its November price changes to cut ex-works price for HR, HR pickling, heavy plate and CR products by CNY 250 per tonne to CNY 500 per tonne and planed to give some favors for orders of some special products.

Mr Shen Wenrong Chairman Of Shagang, Steel Industry, Heavy Overcapacity, Low Steel Price, China Steel Industry, Large Scale Production Suspension, Industrial Analyst, Limited Quantity, Baosteel Price Policy, Hr Pickling, Heavy Plate, Special Products

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