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

Check the full contents at: https://www.cnbc.com/2021/08/02/china-wants-to-curb-steel-production-some-say-its-virtually-impossible.html

• 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.

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