Steel-making province in China cuts output, to impact ore imports
Iron ore prices continue to plummet in recent days after Tangshan in North China’s Hebei Province – one of the country’s top steel-producing provinces – started to curb production amid China’s environmental protection efforts, which triggered worries over future iron ore demand.
According to domestic news site guancha.cn, citing a report from industry website Mysteel, Tangshan local authorities held an emergency meeting on environmental protection on Monday, asking local industrial enterprises to implement production suspensions and restrictions from Tuesday to Thursday.
The last time the Tangshan government issued such a warning was in 2017.