Tangshan, China's steelmaking hub in the northern region, is reportedly loosening up restrictions on the steel sector in August, which resulted in sentiment deteriorating in the market on Tuesday July 30.
Domestic Eastern China (Shanghai): 3,920-3,940 yuan ($569-572) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Beijing): 3,830-3,850 yuan per tonne, down 10-20 yuan per tonneChinese media reported that the Tangshan Ecology & Environment Bureau had submitted a draft of steelmaking restrictions for August to the municipal government over the weekend.The draft proposes two mills to halve their blast furnace production next month, 14 steelmakers to reduce output by 30%, while 17 others are not be required to curtail any production.In comparison,...