China’s govt to pressure crude steel output in 2021 to reduce dependence on iron ore
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Update time : 2021-02-19 22:24:38
According to the official statistic, the total output of crude steel in China last year was around 1.05 billion tons, increased by 5.2% year on year, counted as over 56% of the output in the whole world.
However, the strong output of crude steel pushed the iron ore prices to increase, even touched to an 8-year new high on December 21st, 2020.
To reduce the dependence on iron ore, the Chinese government started to pressure the output of crude steel, and encourage the domestic steel mills to import more scrap from overseas.
