China Electricity Cuts Unlikely to Affect Big Steelmakers

Bloomberg reports China’s electricity cuts probably won’t be extended to bigger steel makers in northern provinces.

The market news is quoted as saying,

“This time, we have power cuts that are more regionally- based,” CLSA Asia Pacific analyst Scott Laprise said today in Beijing, where he is based. The government is limiting power supply in Jiangxi, Zhejiang, Guizhou, Hunan and Chongqing provinces, which account for 9 percent of the country’s total steel output, Laprise said in slides presented at a forum.

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