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Chinese steel mills expected to cut production

Steel producers in China are expected to cut production in the short term.

Chinese steel mills expected to cut production

The pressure on cold-rolled steel supply in China remained high in the peak period of April and steel consumption continued.

In April, China's apparent cold-rolled steel demand first increased and then decreased, and production also peaked. Entering May, demand decreased with limited resilience, but supply remained high with great resilience. Therefore, the price trend will depend on the change on the supply side.

China has planned to keep crude steel production stable this year. Therefore, if there is no emergency situation in the future, steel mills in China will continue to reduce their production in the short term.

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