'Two Sessions': What does China's 2026 government report mean for steel industry? Mysteel explains

With China's National People's Congress opening its annual session in Beijing on March 5, the 2026 government work report was submitted to the country's top legislature for deliberation. The policy framework outlined in the 2026 government work report emphasizes economic stability while accelerating structural transformation, Mysteel notes.

For China's steel sector, the policy direction suggests continued capacity discipline and structural upgrading, while softer raw material costs may help modestly improve the steel sector's overall profitability, according to Mysteel's latest analysis. 2026 growth target moderately lower, policy support largely stable China set its 2026 GDP growth target at 4.5-5%,