SMM: Output of Yunnan Steel Enterprises in July will Reduce by more than 30% MoM

SHANGHAI, Jun 24 (SMM) - According to the SMM survey, recently, Yunnan steel enterprises held a meeting and decided to jointly reduce production. Kunming Iron & Steel plans to reduce another 50,000 mt on the basis of June. Yunan Qujing Shuangyou Steel is going to fully suspend the production for a month. Yunnan Qujing Iron and Steel Group Phoenix will set its daily output of 2,000 mt. Qujing Chenggang maintains one blast furnace in production, and Yukun Iron & Steel Group will stop the operation of one blast furnace. Yuxi Xianfu Iron & Steel continues to cut the production of strip steel and construction steel. In July, it is estimated that the construction steel output of Yunnan steel enterprises will be about 720,000 mt. According to SMM data, the construction steel output of Yunnan steel enterprises in June was 1.2 million mt. Therefore, the output will be cut by 30% compared with that in June.