Steel Mills in Yunnan Cut Production as Industry Bleeds Losses

What’s new: Steel refineries in southwest China’s Yunnan province have begun slashing production in the hope of mitigating expanding losses amid weak demand and rising costs.

According to the Yunnan Iron and Steel Association, its member companies have been coordinating production control efforts to limit losses since the start of March, with a planned reduction in total construction steel production of 500,000 tons.