China’s Tangshan city has announced a new round of steelmaking production cuts effective as of 18:00 on Sunday, January 23, while not disclosing a confirmed end date, with the aim of reducing the possibility of further heavy pollution in the near future.
Tangshan city has activated an orange alert for heavy pollution, aiming to minimize pollution levels. However, the new production restriction measures have exerted a negative impact on sentiment in the iron ore market and resulted in declines in iron ore prices on January 24.