Jiangsu-based Shagang Group, China’s largest private steelmaker, has announced that it plans to implement maintenance work on two bar production lines during September 16-30, which will reduce the output of rebar by 36,400 mt in the given period.
The move by Shagang Group is caused by the government's call to cut emissions and energy use in September, while other steel mills in Jiangsu are also starting repairs works.
According to different sources, steel producers in this province will have to operate at utilization rates not above 50 percent from September 10, while some mills said they are lowering operations to 30 percent, market sources said.
Shagang Group is China's third-largest steelmaker with crude steel production of 41 million mt in 2020.