Steel 's News 1

Although steel prices plummeted in mid-April,  they thought market demand would push them up in May

 and June, due to the elimination of inferior steel products and stable market demand.

More than 500 companies which produce inferior steel have been urged to close by the end of June,

 involving 119 million metric tons of production capacity, according to a statement from the China 

Iron and Steel Association.

But inferior steel production will be added from other operational steel plants, which will lead to

 growing output.