According to the report, China's state-owned steelmaker Baosteel said the Chinese government will continue to curtail steel production this year to meet the country's goal of zero-carbon growth in the sector within two years.
Wu Xiaodi, general manager of Baosteel, noted that the policy of maintaining the stability of steel production is still carried out this year, and this year's production will not exceed the level of last year.
Given the increase in steel production during the first seven months of this year, China should cut production by 30-40 million tons. Baosteel expects production cuts to possibly start in October or November and there will be a rapid reduction in volumes once cuts begin.
Baosteel: China to limit steel production this year
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Azovpromstal® 5 September 2023 г. 17:00 |
