China announces steel production cuts to reduce carbon emissions
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Update time : 2025-03-07 17:16:11
China has announced plans to reduce steel production as part of its effort to restructure the steel industry. The announcement came from the National Development and Reform Commission (NDRC) during the National People’s Congress in Beijing.
Although the government did not specify the exact scale of the cuts, it is speculated that production could be reduced by 50 million tons per year. This marks the first time the NDRC has proposed such a reduction, signaling a shift toward more regulated steel production in the country.
China’s steel production has stayed above 1 billion tons annually despite efforts to reduce it due to carbon emissions. The country has been facing complaints from other countries over rising steel exports, which have helped offset declining domestic demand.
Reducing production aligns with China’s carbon reduction goals, with experts suggesting a 15% cut in capacity by 2025.
In 2024, China’s steel production dropped 1.7% year on year to roughly 1 billion tons, marking the lowest output in five years, and it was expected to remain below 1 billion tons moving forward.
