CISA: Cutting steel output is the journey, not the goal
Mar 05, 2021 17:15
See Full-size Table Here
China’s determination to cut domestic steel output in 2021 should not be seen as a target, but rather a means to achieve the high-quality development and upgrading of the steel industry, according to He Wenbo, executive chairman of China Iron and Steel Association.
In late January, China’s Ministry of Industry and Technology (MIIT) caused some consternation in the steel sector by declaring that domestic crude steel output in 2021 should be curtailed to below the volume in 2020 of 1.065 billion tonnes. Steelmakers and traders expect that domestic steel consumption will probably continue