China to limit steel production this year
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Update time : 2023-09-05 15:32:29
China's state-owned steelmaker Baosteel said the Chinese government will continue to limit steel production this year in order to match the country’s goal of zero growth on the sector's carbon emissions for two years.
Wu Xiaodi, General Manager of Baosteel, commented that this year there is still a policy of keeping steel production stable and this year's output will not exceed the level of last year.
Given the increase in steel production during the first seven months of this year, China will need to reduce production by between 30 and 40 million tons. Wu expected the production cut to possibly start in October or November and would make a rapid reduction in volumes once the reduction begins.
