FLASH: More Chinese mills to reduce steel output on control policy

With the gradual policy implementation of another on-year crude steel production control, more Chinese steel producers are planning to reduce their steel output in the near term, Mysteel learned from market sources.

Specifically, some construction steelmakers in East China's Jiangsu province are reportedly reining in production so as to reduce 20%-30% of their steel output for the remainder of the year from the average tonnage they produced in the first half, while some mills in East China's Shandong province are heard