Industry News

Steel price increased in China due to carbon peak & carbon neutrality commitments

Views : 506
Update time : 2021-09-28 18:22:12
Many provinces were forced to suspend production due to power curtailment, and steel and other industries are likely to boost prices due to the effect of production restrictions.

The Chinese government has implemented dual control on energy consumption and intensity against the high energy consumption industry such as steel and cement industries to realize its carbon peak and carbon neutrality commitments.

In the first half of this year, China's crude steel and steel products production increased by 11.8% to 563 million tons and by 13.9% to 698 million tons year on year, respectively. The production capacity has not declined but increased, which seriously violated the proposal of dual carbon goals this year.

China accounts for the largest steel export volume in the world; therefore, if production restrictions cause an imbalance between market supply and demand, this will impact the future trend of international steel prices.
Related News
Read More >>
Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices
Apr .29.2025
Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices
Brazil's steel imports may break Mar record in Apr Brazil's steel imports may break Mar record in Apr
Apr .29.2025
Brazil's steel imports may break Mar record in Apr
Nickel prices surge as LME inventories decline & US-China trade tensions ease Nickel prices surge as LME inventories decline & US-China trade tensions ease
Apr .29.2025
Nickel prices surge as LME inventories decline & US-China trade tensions ease
Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics
Apr .29.2025
Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics