Apr 15, 2023 06:08 AM

BUSINESS

China Caps 2023 Steel Production at 2022 Level

By Luo Guoping and Han Wei

As of early April, crude steel production by major steelmakers increased 3.45% year-on-year to 223 million tons

As of early April, crude steel production by major steelmakers increased 3.45% year-on-year to 223 million tons

China plans to cap domestic steel mills’ 2023 output at 1.018 billion tons, unchanged from last year, to manage the post-pandemic recovery and control oversupply.

The planned limit on production will be reviewed in the second half of the year and may be subject to change, Caixin learned from multiple sources. A formal policy document hasn’t been released.

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