China will focus on new high quality steels

To improve the competitiveness of its manufacturing industry, China has identified the need to accelerate breakthroughs in key technologies in the development of new materials such as high quality functional rare earth materials and high quality special steels, high performance alloys, superalloys and high purity metal materials.

This encourages the metals industry to deeply process metals and helps expand the sector’s value chain and foster the development of advanced industrial products, including integrated circuits, that require high-purity materials, market participants said.

China plans to advance the green transformation of its steel industry and accelerate the transformation of long and medium-haul goods transportation from road to rail and waterways, and achieve extremely low carbon emissions for its 530 million tonnes of steel capacity.

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