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China to keep cutting crude steel output in 2022, state planner says -Breaking

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© Reuters. FILE PHOTO – Workers in face masks after the outbreak of coronavirus (COVID-19), load steel products to be exported to a container ship from Lianyungang province, China, May 27, 2020. China Daily via REUTERS

BEIJING (Reuters), – China’s government planner plans to reduce its crude steel output after cutting approximately 30 million tonnes by 2021, an official stated on Tuesday.

The top-ranked steel producer in the world met its annual targets last year. They reduced their steel production by 1.35 billion tonnes, down from 1.65 billion tonnes in 2021.

As it seeks to reduce its carbon dioxide emissions by 30%, the industry expects that output control will be maintained by government. China’s total greenhouse gases are about 15% caused by the ferrous industry.

Meng Wei spoke at a briefing that the National Development and Reform Commission will strictly enforce requirements to ensure steel sector supply-side reform and energy consumption.

She did not give a detailed target for the output cut but said the key areas for the cuts would be Beijing-Tianjin-Hebei and the Yangtze river delta.

China’s first quarter crude iron steel production was 234 million tonnes. That is 10.5% lower than the year before, the data bureau reported on Monday.

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