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Ferrous market divided on China’s 2021 steel output cut

ABSTRACT

The surges in the prices of the series of ferrous products including steel, iron ore, and coke since April, have further divided the ferrous market sources in and out of China on their views regarding the possibility of China’s steel output cuts despite Beijing’s reiterations, as steel demand both in and out of China has been robust and steel margins have been high at Yuan 600-1,000/tonne ($93-155/t) depending on products.
China’s Ministry of Industry and Information Technology reiterated since late January to trim the country’s crude steel output on year for 2021, but in sharp contrast, the country’s crude steel output surged 15.6% or 37 million tonnes on year to 271 million tonnes over January-March, and the nationwide output may

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