China will reduce steel production in 2021

China in 2021 will reduce steel production compared to 2020, said on Tuesday the Minister of Industry and Informatization of the PRC Xiao Yaqing.

“Next year, the country will make efforts to promote low-carbon industrial development and green production,” the official said, the Xinhua news agency.

In recent years, China has taken serious steps to reduce excess production capacity, especially in the energy-intensive steel sector. During the 13th five-year plan (2016-2020), the PRC met the target of reducing steel production by 150 million tons ahead of schedule.

According to the World Steel Association, for 11 months of 2020, China increased steel output by 5 , 5%, to 961.158 million tons.

Based on materials from: Xinhua News Agency

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