Energy Insider: China’s Power Usage Hits Daily Record; Great Wall Recalls 16,000 EVs

In today’s Caixin energy news wrap: China’s steel industry is drafting a roadmap to reach carbon neutrality; the country’s exporters may face rising costs with EU’s new carbon border tax; China’s rare earth elements exports rise 49% in June

Steel industry braces for curbs under carbon neutrality plan

China’s steel industry is preparing a draft plan that would force companies to curb production and capacity, optimize steelmaking processes and consolidate around larger players to bring the heavily polluting industry in line with the country’s ambitious carbon neutrality goals. The draft is being distributed for comment. The plan maps out the carbon reduction potential of the industry and identifies key tasks for reaching specific goals.