Production cut news in Tangshan buoy China steel market

Source: Mysteel May 08, 2023 16:00

Steel producers in Fengnan district of Tangshan city, China's top steel-producing hub, have been officially required by local authorities to beef up efforts to rein in their crude steel output by rolling out reasonable production plans throughout the course of this year, making them the first batch of mills in China to observe another administrative on-year reduction in crude steel output after consecutive cuts in 2021 and 2022, Mysteel learned from market sources.

On May 6, steelmakers in Fengnan district received an official document from the local development and reform bureau which said that in order to encourage the steel industry to pursue high-quality development rather than focusing on the old quantity mode, mills in the district will be required to keep