Senior managers at four Chinese steel mills, including Beijing Shougang (000959.SZ), Angang Steel (000898.SZ), Hebei Iron & Steel Group and Shandong Iron & Steel Group, have said they will cut production by 20% this year, the Securities Times reported. Bohai Securities steel analyst Ma Tao said the scaleback “could be due to fewer orders”, adding that large stockpiles put pressure on operating costs. Steel prices in China have fallen from a peak of US$876 (RMB6,000) per ton this year to ...