So far Sep has started strongly for the steel sector in China. The first 10 days has seen an increase of 1.4% since the final third of August.
August steel numbers haven’t officially been released but the average of the various releases made by Mysteel show that it likely hit 86.35mt, which would be 1.3% higher than July 19 and 7.5% higher YOY. August 18 was 80.3mt according to Worldsteel
All these production caps are more bark than talk. They may appear detrimental to the IO market but they are all relatively immaterial. The steel sector got its wish in August though; much cheaper input costs.
https://www.mysteel.net/article/5010092-0503/Mysteel--Early-Sept-daily-crude-steel-output-up-06.html
Iron ore price, page-16059
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