China Steel Output Falls for First Time in Six Years as Government Curbs Bear Fruit
China’s annual crude steel output fell for the first time in six years, dipping 3% to 1.03 billion tons in 2021, as the country seeks to rein in the industry to cut carbon emissions and other pollution.
For the first half of 2021, output surged 12% year-on-year to 563 million tons, as China’s economic recovery drove up demand. In the second half, however, monthly output began to decline, in line with the government’s goal to reduce annual production. Several regional steelmakers have reduced capacity accordingly. In the six months through December, China’s crude steel output fell 16% year-on-year to 470 million tons, National Bureau of Statistics (NBS) figures showed.
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