China's production cuts anticipated to benefit South Korean steel products
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Update time : 2023-03-29 17:18:31
According to experts, China will again reduce steel production this year as it did last year. As a result, interest is focused on whether the reduction in the supply of cheap Chinese steel products will provide Korean steel makers more negotiating leverage.
As it limits carbon emissions from companies that reported excessive carbon emissions, China will continue to reduce its annual crude steel production. According to market participants, after reaching a record high of 1.053 billion tons in 2020, China's crude steel production fell to record lows of 1.035 billion tons in 2021 and 1.013 billion tons in 2022, continuing a two-year downward trend.
