Tag: Steel mills around the world reduce production over contracting margins

Steel mills across the world have been opting for production cuts over squeezed margins and prices nearing the bottom. For instance, global hot-rolled coil (HRC) prices have bottomed out to $600/t levels. More than 50 blast furnaces (BF) in China’s Hebei and Shanxi provinces have shut down due to declining profit margins. Chinese HRC prices…