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Did the latest news of Yugang stop production in 2022?

Stop production.

The overhaul plan of Jiuquan Iron and Steel Co., Ltd. and Yugang Iron and Steel Co., Ltd. is to stop production and overhaul the 2800m3 blast furnace on August 2, 2022, and the time for resuming work is to be determined, with an average daily impact of 640,000 tons of SMM steel.

The real reasons for the suspension of production in iron and steel plants are overcapacity, oversupply, product backlog, poor sales, difficulty in withdrawing funds, and continuous decline in steel prices, which has led to the closure of many iron and steel enterprises.