BREAKING: China to continue crude steel output control in 2024

The action plan stated that "in order to actively and steadily achieve China's 2C goals and to promote the comprehensive green transformation of economic and social development, this year's energy consumption and carbon dioxide emissions per unit of GDP will decrease by about 2.5 percent and 3.9 percent respectively."

And the plan also noted that the energy consumption of added value of industrial enterprises above designated size in China should decrease by about 3.5 percent, and the proportion of non-fossil energy consumption should reach around 18.9 percent in 2024 and 20 percent in 2025 respectively.

Specifically, about 50 million tonnes of standard coal should be saved for energy-saving and carbon-reduction transformation in key areas and industries, and about 130 million tonnes of carbon emissions should be reduced in 2024 and 2025, as per the action plan.

"To achieve these goals, a slew of actions should be taken to reduce and substitute fossil energy consumption by strictly and reasonably controlling coal consumption and optimizing oil and gas consumption structure, upgrade non-fossil energy consumption, and save energy and reduce carbon emissions in steel, petrochemical, non-ferrous metal, and building materials industries, and in areas such as architecture, transportation, public institutions and energy-using products and equipment," the plan release said.

Mysteel Global will publish more detailed reports on actions to adjust and control the country's crude steel output for the steel sector.

Edited by Vivian Yang, yangzhenqi@mysteel.com