China's winter steel output cuts down 76% on year, impact on Q4 output seen slight

摘要

Singapore—The annual pig iron production suspension ordered by the cities of Handan and Tangshan in northern China’s Hebei province to control air pollution from Oct. 1 to Dec. 31 is 76% lower this year than the restrictions imposed a year earlier, S&P Global Platts calculated Oct. 21 based on official announcements. Further, the output cuts had not been implemented at most local mills in the two cities as of Oct. 20, market participants told Platts. As a result, the restrictions are unlikely to have a big impact on steel production levels in the fourth quarter, particularly as they have not been strictly implemented or adhered to.