China's steel cuts to improve cost-basis: S&P Global analysts

摘要

“Necessary” cuts to Chinesesteelmaking capacity will improve the country’scost-basis as smaller, less efficient mills exitthe space, according to a report publishedFriday by S&P Global Market Intelligence andS&P Global Platts.The cuts, designed to reduce Chinesecrude steel production by 33 million mtover winter, have been brought forwardfrom mid-November to October because ofpoor air quality in the key production hub ofTangshan. The report said data from the USEmbassy in Beijing showed particulate matterwith less than 2.5 mm was low for October,but remained high in other areas grapplingwith pollution.