SHANGHAI, Jun 16 (SMM) - For the highly concerned crude steel production cuts in Jiangsu, a reporter learned from industry sources, that relative noticed did have been released in Jiangsu.
Based on the registered capacity of local iron and steel mills in 2016, the capacity utilisation rate shall not exceed 120%. And in accordance with the production reduction requirements, all steel mills, in principle, shall reduce the crude steel production by no less than 5%.
In 2021, crude steel production in Jiangsu stood at 119 million mt, account for 11.55% of the domestic total. In the first four months of 2022, crude steel production in the province was 40.58 million mt. Calculated by the production cut target of 5%, the total output shall be cut by another 3.32 million mt in May-December in order to complete this target.
However, some steel mills said that it is not yet clear that to what extent shall the mills cut their production.
