Steel Article

New Policy Leads to Capacity Reduction. Large Strick to Tangshan
29 August 2016 21:49

The implementation of DE-Capacity policy continues to affect steel market this week. On Wednesday, the list of steel equipment which are supposed to be phased out in Hebei province this year has been published on the internet, accompanied are the mill name, blast furnace equipment and converter equipment. Till the end of July, only 4 blast furnaces had been phased out, and in the following 3 months, 28 more sets will be weeded out as planned. However, more than half of those furnaces are under production now, mainly belonging to mills producing steel coils, wire rod in Tangshan area. Therefore, it will be a large strick to Tangshan market. Last Friday, bilet prices increased RMB 100/mt, reaching to RMB2350/mt.

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