Shagang, Yonggang, Zenith Steel to halve production in Nov on CIIE

SHANGHAI, Sep 27 (SMM) – East Chinese steel mills Shagang, Yonggang, and Zenith Steel in Jiangsu province are likely to halve their production in November due to the China International Import Expo (CIIE) and President Xi Jinping’s visit to Jiangsu that month. 

Detailed cut schedule has not been released. The three mills and other steelmakers in the area are currently under normal operation, with no cutback plan for October, SMM learned. 

The China International Import Expo (CIIE) is slated to be held in Shanghai during November 5-10.

Given the Expo, Chinese authorities have required all the construction sites across Shanghai to suspend operation during October 23-November 12. However, the impact of CIIE on the demand side will be smaller than that on the supply, in light of the capacity of Shagang, Yonggang, and Zenith Steel, SMM believes.