Steel Market Production Cuts – China’s Ministry of Industry and Information Technology (MIIT) has issued a list with planned annual crude steel production capacity cuts totaling 7.8 million tpy that will affect 22 steelmakers along with the closure of blast furnaces at 27 works for a reduction in total pig iron capacity of 10.4 million tpy. These cuts will be fully implemented by September of this year.

Steel Market Production Cuts – According to the China Iron and Steel Association (CISA), daily steel production in China fell to 1.965 million in the last ten days of June – a decrease of 0.3% from the number reported in the middle ten days and down some 1.7% from the number reported in the first ten days.

Steel Market Production Cuts – Chile’s Compañía Siderúrgica Hauchipato (CAP Acero) plans to reline its No. 2 blast furnace at its Talcahuano longs plant for 90 days during which time it will be running the 1.4 million tpy facility at half capacity.

Steel Market Production Increases – Chinese welded line pipe maker Baoji Petroleum Steel Pipe (BSG) has inaugurated its new 300,000 tpy electric arc welded pipe (ERW) facility in Xi’an city with most of the new production to be oil country tubular goods (OCTG).

Steel Market Production Increases – Chinese steelmaker Kunming Iron and Steel has commissioned two converters at its new facilities in Anning that bring the company’s annual production capacity to 2 million tpy.

Steel Market Production Cuts – Workers at Venezuelan steelmaker Sidetur have been on strike since the end of last week – it is as of yet unclear how this will affect the company’s 1,300 tonnes per day of billet as well as its production of angles, plate and rebar.

Steel Market Production Cuts – Ukrainian steelmaker Alchevsk has announced that it will be reducing production of rolled steel products in July by 15% from June, bringing final production to around 250,000 tonnes in the month.

Sources: Steel Business Briefing, SteelOrbis, MySteel