Three reasons why Chinese steelmakers are trapped in a prisoner’s dilemma

Steelmaking margins in China have been in the negative for more than five weeks, but Chinese mills are showing no signs of implementing significant production cuts in the near term, against market expectations.

While daily crude steel production stood at 2 million tonnes in mid-October, a 1.25% decrease from the previous year according to data published by China’s Iron and Steel Association (CISA),...

Published

Norman Fong

November 03, 2023

12:05 GMT

Singapore