China to import more steel for domestic production cut, Cisa says

Luo Tiejun, the vice president of the China Iron & Steel Association (Cisa) said the country will take measures to push down steel production in 2021 and raise imports.

Luo, who spoke at the Regional Comprehensive Economic Partnership's (RCEP's) Steel Development Forum on Friday April 9, emphasized five major points, according to a report on Cisa's website.
Lower crude steel output
Cisa is of the opinion that steelmaking restrictions should not be a one-size-fits-all approach and ought to differ between mills.
The following types of mills need to have their production curtailed - illegal new projects and steelmakers that have not complied with capacity replacement programs since 2016; and mills with poor environmental track records and those that do not meet industry standards.

But as for class-A mills that produce ultra-low emissions and...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold