China's hot-rolled coil prices dropped on Thursday September 20 after the government in the northern steelmaking hub of Tangshan released new rules on winter production cuts that have triggered supply concerns.
DomesticEastern China (Shanghai): 4,290-4,310 yuan ($626-629) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin)): 4,200-4,230 yuan per tonne, down 20-30 yuan per tonneParticipants have started to worry that steel supply could grow excessively after the Tangshan government yesterday released a document governing winter production cuts this year.The new rule categorizes mills into four types, with those meeting the required environmental standards not needing to limit production, while others...