Northern China's steel hub of Tangshan will cut 1.6 million tonnes of hot metal production at 20 steel mills in March to improve air quality, market sources in the country told Fastmarkets on Monday March 9.
This round of production cuts will affect around 56 blast furnaces in the city, according to Fastmarkets' estimation, which will ease the pressure of high inventories at steel mills and in the spot market, participants said."Steel demand has been weak in the past few weeks because Chinese companies are still running at low...