Steel production in China decreased by 3.6 percent in January-February 2026

In the period from January to February of this year, China's production of pig iron, crude steel and finished steel totaled 137.7 million tons, 160.34 million tons and 221.19 million tons, down 2.7 percent, 3.6 percent and 1.1 percent year-on-year, respectively, according to the National Bureau of Statistics of China (NBS).

During the two sessions in March this year, deepening the elimination of involution-style competition was clearly identified as one of the key objectives of China's annual economic work.

Accordingly, Zhao Mingye, party secretary and chairman of the Shougang Group, suggested that the relevant government departments send a political signal to market participants as early as possible to continue to control steel production and strive for the release of national crude oil. The goal is to control steel production in the first quarter, which will help steel mills prepare their annual production plans in advance and ensure that their annual reduction targets are met.

According to previous forecasts by various resources, China's crude steel production is expected to decline to 930-944 million tons in 2026, compared with 960.81 million tons recorded in 2025.