China aims to reduce steel production to curb environmental pollution, ensure domestic supply this will make the price hiking again.
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Update time : 2021-08-05 18:02:51
The world's largest steel producer and exporter China, is considering imposing more restrictions on steel production, in order to curb environmental pollution and ensure sufficient steel supplies in the domestic market. However, the move is likely to lead to a reduction in steel production and export volume.
According to China Iron and Steel Association (CISA), China’s crude steel production is about to decrease as the government implemented environmental inspections. Besides, if China imposes higher impose tariffs on overseas goods, the exports will drop accordingly, warned CISA.
