MYSTEEL: China's steel supply and demand to remain weak in 2026

Both steel supply and demand in China are expected to remain weak in 2026, with crude steel output and apparent consumption projected to fall by 1.1% and 0.9% respectively from 2025, Mysteel predicts in the latest annual report.

The expected decline in crude steel output is primarily driven by tighter production capacity regulation and the pursuit of carbon peaking and carbon neutrality goals through a series of policy measures, according to the report. For example, in late October 2025, China's Ministry of Industry and Information Technology (MIIT) released