Shaanxi, Shanxi, Gansu, Sichuan steelmakers to cut production to support the market

SHANGHAI, Aug 12 (SMM) – Steelmakers across central China’s Shaanxi, Shanxi, Gansu and Sichuan provinces agreed at the meeting over the weekend to curtail production to prop up steel prices, SMM learned.

In Shanxi, Liheng will halve production by suspending two blast furnaces, which translates to 6,000 mt of daily output being impacted, while Jianbang will cut one third of its production, as much as 3,000 mt per day, by suspending a 550m³ blast furnace.

Shanxi Jianlong will use 30% less of steel scrap to reduce production by a daily volume of 3,000 mt, while Hongda will slash daily output by 1,500 mt.