Chinese steel mills in several provinces have been instructed to lower their production rates this week for environmental reasons, thereby reducing demand for raw materials, sources said on Thursday July 1.
"The production cuts are not limited to the Tangshan area now. Mills in Anhui, Shandong, Zhejiang, Hunan, Shanxi, and Gansu provinces have all received instructions to keep their production rates unchanged year on year," a trading source based in Hangzhou told Fastmarkets.Buyers in the China steel scrap spot...