CISA urges voluntary steel output cuts to safeguard industry profitability

China's steelmakers must clearly recognize the mounting operational pressures they face during the current half and voluntarily rein in steel production to drive down steel inventories and secure reasonable annual returns, according to Jiang Wei, Vice Chairman and Secretary General of the China Iron and Steel Association (CISA).

Addressing delegates at the association's 14th General Assembly held in Shijiazhuang in North China's Hebei province on August 21, Jiang acknowledged that China's steel industry had endured a tough H1 this year, mainly caused by persistent oversupply and falling steel exports. Citing data from China's National Bureau of Statistics (NBS),