SHANGHAI, Jan. 9 (SMM) – Approximately 1/3 of galvanized plate/sheet producers in Shandong Province have cut or suspended production, Shanghai Metals Market learns.
The production suspension, resulting in low utilization rate at local producers in January, is due mainly to weak demand, high inventories and cash crunch, according to SMM survey.
One local galvanizer said nearly 1/3 of local galvanized plate/sheet and tube/pipe producers have reduced or halted production.
Zinc price will gain no support from anemic demand in north China.
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