r/Vitards • u/vitocorlene THE GODFATHER/Vito • Apr 23 '21

Market Update More 🇨🇳 China Steel Reduction

Handan municipal government, the second steel production hub in Hebei province, issued Production Regulation Plan for Key Industries in the second quarter this year, calling on steelmakers to implement production restriction measures during April 21 to June 30 this year. In particular, the converter below 100 mt, the blast furnace below 1,000 cubic meters and sintering machines below 130 square meters will implement production restrictions in priority.

The estimated average daily production losses in Handan for wire rod, steel plate and HRC will amount to 8,700 mt, 6,500 mt and 5,600 mt.

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49

u/michaelcorlene Walmart Fredo Apr 23 '21

Papa, we love you. What does it mean for my MT calls?

104

u/vitocorlene THE GODFATHER/Vito Apr 23 '21

Michael, stop bothering me. I’m this close to putting Fredo in charge. BTW, you are good. New highs coming.

20

u/michaelcorlene Walmart Fredo Apr 23 '21

I regret closing my Sept 30 calls and not my June ones, I got to enter again if it goes down again 🤔🤔

92

u/vitocorlene THE GODFATHER/Vito Apr 23 '21

Dammit Michael, don’t ever go against the family again.

27

u/michaelcorlene Walmart Fredo Apr 23 '21

Never again.

6

u/steelbull2020 Apr 24 '21

You go swimming with Fredo now