Chinese authorities continue to reduce crude steel production this year
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Update time : 2022-04-21 19:04:31
In order to guide steel enterprises to focus on quality instead of quantity, on April 19, China's National Development and Reform Commission (NDRC) declared that they will continue to implement the policy of reducing crude steel output this year, which showed that the Chinese authorities intended to restructure the steel industry by decreasing crude steel output and increasing the production of high value-added steel products.
This reduction policy may cause an increase in carbon steel market prices, and market prices of raw materials like iron ore and coke may decrease at the same time.
