Some of China's steel manufacturers decide to reduce production to stabilize steel prices
Time:Wed, 27 Jul 2022 09:40:13 +0800
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There are ten large China's steel mills that announced cutting their production to try to make steel prices stable. Taiwan's China Steel Corporation (CSC) commented that cutting production will be good to recover the steel market in the fourth quarter.
Currently, many of China's steel companies are in a serious situation. Losses have occurred and continue to expand. Recently, many of China's listed steel companies reported their earnings forecasts for the first half of this year, and their net profit fell by more than 20 to 50%.
As a result, most of China's steel mills have already agreed to reduce production.
