Major Chinese steelmaker Baosteel has announced that it has adjusted its steel capacity target from 80-100 million mt to over 80 million mt for the 15th Five-Year Plan period (2026-30). According to the company, rather than blindly chasing expansion of capacity, it will focus on unlocking the value of existing resources through synergies.
In addition, while the company has aimed to export 6.0 million mt of finished steel in the current year, its export volume has risen by over 10 percent in the January-September period this year, and so its steel exports will likely exceed 6.5 million mt in 2025.
