Steel mills expect gains from output suspension
Beijing will adopt a specific air quality control plan to temporarily close factories for the military parade celebrating the 70th anniversary of victory in World War II, which will have a positive effect on steel prices, mysteel.com said.
Some steel mills based in the places such as Handan and Tangshan in Hebei province and Taiyuan in Shanxi province have already received notice asking them to reduce or suspend production during the celebration to be held on September 3, according to steel information provider mysteel.com.
About 30 percent of steel capacity will be reduced from the end of August to early September, while from the end of September to the National Day holiday (from October 1 to 7), all the steel mills located within 100 kilometers of Beijing will be completely shut down, it said.
