March 2015 | Steel Raw Materials
Hebei announces stricter measures on steel capacity: Iron Ore Market Analysis
Overall, reduced domestic steel supply and the well-telegraphed intentions of large steelmaking provinces to further consolidate a relatively larger scope of steelmaking capacities has provided modest support to many Chinese semi-finished and finished steel prices.
Recent announcements made by Hebeis provincial government that the administration would shut down steel capacity of certain sizes provided a boost to Chinese steel producer sentiment over the past week. In fact, Hebei, the countrys largest steelmaking province, is planning to phase out blast furnaces of 450 cubic metres and below, as well as basic oxygen furnaces of 40 t and under, according to a statement published on the provincial governments website. At the same time, member...
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