China wants to curb steel production. Some say it’s ‘virtually impossible’

 Time: 2021-11-05 10:36:24    From: 

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  • In the first half of 2021, Chinese steel mills have churned out nearly 12% more crude steel compared to the same period in 2020, according to a Wood Mackenzie note.
  • Production is likely to be lower in the second half of the year, but getting it below 2020 levels may be a challenge, analysts say.
  • However, Mu Guoqiang of Chinese steelmaker Hesteel, said steel mills have “no choice” but to pay more attention to decreasing production in line with government policy, especially for state-owned firms.

  • China wants to curb steel production

A worker extracts a sample of molten metal during a government organised tour at a Tiangong International plant, makers of high quality steel and tools, in Zhenjiang in China’s eastern Jiangsu province on October 12, 2020.
Hector Retamal | AFP | Getty Images

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