China steelmakers keeping clamp on output, additional cuts eyed

Mar 25, 2009 | 10:00 AM |

China's major domestic steelmakers are likely to maintain cuts or slash output further as few signs of recovery are seen, mills and traders said.

Some of the country's biggest producers—Hebei Iron & Steel Group, Anshan Iron & Steel Group, Maanshan Iron & Steel Co. Ltd. and Jinan Iron & Steel Co.—are keeping output low, while others, such as Shagang Group, are expected to slice some output in the face of continuing poor demand.

Some mills in northern China have plans to cut output by a further 20 to 30 percent, but no final decisions have been made yet, according to a market analyst at a major steel mill in northern China.....

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