In the January-June period this year, the crude steel output in China’s Jiangsu Province amounted to 63.2534 million mt, up 1.4414 million mt compared to the same period of last year. The production cuts in July and August have not been significant, which may result in a year-on-year rise in crude steel output in the January-August period.
In 2022, crude steel output in Jiangsu Province totaled 116.1102 million mt, while the crude steel output for the full year of 2023 may be restricted to around 110 million mt, and so the possible crude steel output in the July-December period this year may amount to 46.7466 million mt, 16.50 million mt less than that in the January-June period. Considering the lack of a significant decline in crude steel output in the July-August period, there will be strong pressure on mills in Jiangsu Province to implement significant output cuts in the last four months this year.