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Chinese Steel Production To Fall In 2021

China
China

Chinese Steel Production To Fall In 2021

BEIJING – China’s steel production will decline in 2021 as it strives to achieve carbon peaking and carbon neutrality goals.

China’s production was estimated at 1.03 billion tonnes last year. Down 35 million tonnes from 2020, the China Iron and Association said on Monday.

In the first 11 months of 2021, China’s steel output was 946 million tons, a year-on-year decrease of 2.6%.

Consolidated profit for that industry rose 86.46 percent year-on-year to 351.7 billion yuan ($55.25 billion) in the January-November period last year. As rising costs and demand pushed up prices.

The association said that industry enterprises accelerated the green and low-carbon transformation last year. The energy consumption per ton of steel and the emission of sulfur dioxide greatly reduced.

Investment in the real estate sector expected to slow this year. But infrastructure investment will pick up, but total demand is likely to remain the same as last year, the association said.

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Written by Hüseyin Ali

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