SHANGHAI, Aug. 18 (SMM) – Elimination of “Ditiao steel” capacity and tougher environmental crackdowns could help steel prices return to normal level, said Chi Jingdong, Deputy General of China Iron and Steel Association (CISA).
However, such big rise in steel prices in such a short period of time is irrational. Chi added.
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The surge in steel prices will, in turn, push up costs for steel mills, such as imported iron ore, Chi warned.
Note: “Ditiao steel”, which is a Chinese name for low-quality steel produced in intermediate frequency furnace with steel scrap as raw material, as well as rolled steel products produced with such steel as raw material.
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