Possible June output curbs in Tangshan buoy steel market
May 29, 2020 18:30
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Rumours spreading in Chinese steel markets that Tangshan city, China’s top steel producing hub, is going to implement another round of output curbs on steel mills in June are giving strong support to domestic steel market sentiment, industry sources said Friday.
“The news (of possible production curbs) is acting like a ‘cardiac stimulant’ to the steel market, which has been weak for the past few days,” a source based in Tangshan in North China’s Hebei province commented.
Prompting the market chatter is a document dated May 30 from a Tangshan government taskforce