China to Limit Steel Output as Prices Slide and Demand Falls

Chinese authorities are to limit steel production while pushing forward industrywide structural adjustments as steel mills suffer from growing losses amid sluggish demand.

Several ministries led by the National Development and Reform Commission (NDRC) Wednesday said regulators will continue efforts to control crude steel production this year, focusing on energy conservation and carbon reduction. The authorities will foster industry strengths and weed out weak players to promote the structural adjustment and optimization of the steel industry.