[SMM Steel Hot spot tracking] what is the impact of the Tangshan M5.1 earthquake on the steel market?

SMM7, 12 July, according to the official determination of the China Seismological Network, a magnitude 5.1 earthquake occurred 06:38 in Guye District, Tangshan City, Hebei Province (39.78 degrees north latitude, 118.44 degrees east longitude), with a focal depth of 10 kilometers. Aftershocks of magnitude 2.2 and 2.0 occurred at 07:02 and 07:26 respectively. The quake was felt in Hebei, Beijing, and Tianjin. The Hebei provincial government responded quickly and initiated a level 3 emergency response.

Guye District is one of the main gathering areas of Tangshan steel mills, to this end, SMM specially conducted a survey of local steel mills, local market people said that as the local high-rise buildings are earthquake resistant standards of magnitude 8 or above, the earthquake will not have any impact on buildings, the epicenter only a few old houses have cracks, there are no reports of casualties, the mood of the masses is stable, social order is normal, traffic and road conditions are good. SMM Steel will continue to follow up on the latest developments.

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