EASTKING STEEL SHORTS:

 Chinese steel futures hit all-time highs, underpinned by robust demand and concerns over production curbs,

while benchmark iron ore prices hit record highs, fuelled by a structural supply shortage

The northwest Shaanxi province recently urged local departments to verify local steelmakers’ crude steel output in 2020 and explain those whose production exceeded designated capacity or didn’t meet it

Another major steelmaking city Handan in the Hebei province recently issued a notice, asking mills to implement production-control measures in Q2

The measures have sparked concerns of more curbs in the ferrous sector, lifting prices as demand is still strong during the peak season