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Steel mills in the two biggest steelmaking cities in China - Tangshan and Handan - will be required to continue production restrictions in the second quarter as part of local governments’ efforts to improve air quality.
China’s government says it will begin to take measures to rein in its steel output, which in the first two months of 2019 grew by 9 percent compared to the first two months of 2018.
China will conduct a random inspection among provincial regions that are prone to illegal steel production activities this year, an official said Saturday.
The profits of Chinese industrial companies had the worst start to a year in a decade, on weaker factory inflation, slowing production and seasonal factors.
A Chinese steel mill on Tuesday rolled off the world's largest seamless ring forging piece, which was developed especially as the key part of a nuclear power unit.
China’s steel and iron industry will embrace a bullish outlook thanks to the country’s further tax cuts, urbanization and downstream demand, the Economic Information Daily reported.
Benchmark steel futures in China edged higher at the close of a choppy session on Thursday, after the country’s top steelmaking region of Hebei announced capacity reductions in 2019 and 2020 as it seeks to improve air quality.
Further tightening of regulations on Australian coal imports has forced more Chinese steel producers to turn away from the seaborne coking coal market, despite a lack of suitable alternatives in the domestic market and other export regions.
Global crude steel production in January this year increased by one percent both month on month and year on year to 146.7 million metric tons, according to the World Steel Association .
China's construction steel futures fell on February 20, as investors remained cautious about the strength of post-holiday demand from downstream users.
Focus on precision parts manufacturers
