SHANGHAI, Nov 28 (SMM) – Some 5.79 million mt of pig iron production is expected to be affected by maintenance and cuts across SMM surveyed mills during the 2018/2019 winter. This will affect output of rebar and wire rods by 2.29 million mt.
Thought this is lower than the actual affected production a year ago, falling prices of steel products will drive more mills into suspension or maintenance in the near term. This will help to support steel prices, SMM believes.
Actual cuts on pig iron production across those surveyed mills were estimated at 17.63 million mt for 2016/2017 winter, SMM assessed.
