- Focus to be on high-quality development of steel sector
- Crude steel output cuts to help curb carbon emissions
Mysteel: China will continue implementing crude steel output control and promoting industry restructuring this year to advance the high-quality development of the steel sector, Mysteel Global learnt from a government report on the draft plan for national economic and social development in 2025, released on Wednesday during the highly anticipated Two Sessions meetings.
China’s “Two Sessions” – the annual meetings of the National People’s Congress and the National Committee of Chinese People’s Political Consultative Conference – began on Tuesday in Beijing.
China first implemented its crude steel production reduction plan in 2021, following a record-high output in 2020. The initiative aimed to curb carbon emissions and optimise the industrial structure of the steel sector.
In May 2024, China issued a detailed action plan for energy conservation and carbon emission reductions for 2024-25, committing to tighter control over steel capacity and output while strictly enforcing capacity-swap policies. In August, China suspended the capacity-swap scheme to revise the guidelines.
China’s total crude steel production declined by 1.7% y-o-y, to 1.005 billion tonnes (bnt) in 2024.
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