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China's winter cut policy and its impact on steel production

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Listen: China's winter cut policy and its impact on steel production

Beijing introduced the winter heating season cuts in November 2017, requiring steel mills to shut down part of their capacities, to keep the air quality under control. This resulted in a total annualized 52 million mt of pig iron capacity reduced from November to March, along with a much improved air quality across much of 2018. Will China relax its winter cut policy this year? Jeffery Lu and Niki Wang, from S&P Global Platts metals team, discuss policy changes and market expectations.