BEIJING, Nov 14 (Reuters) - China’s iron ore futures edged up on Tuesday along with prices for steel rebar, buoyed as some steel mills ramped up production a day before winter output cuts take full effect.
Industrial plants in northern China have been ordered to curb output by up to 50 percent during the heating season that kicks off on Wednesday, as the government wages its war on pollution.
But analysts expect demand to fade again as the production cuts begin in earnest.
“Considering the scheduled output restraint policy will be fully enforced soon, steel mills will continue to curb production, adding pressure on raw material demand,” Orient Futures said in a note.
https://in.reuters.com/article/asia-ironore/update-1-china-iron-ore-steel-prices-rise-ahead-of-output-curbs-idINL3N1NK319
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