China’s Ministry of Industry and Information Technology (MIIT) has announced that China’s crude steel output will decline by a total of over 20.0 million mt in 2021 compared to the previous year.
According to the data issued by National Bureau of Statistics (NBS), China’s crude steel output amounted to 946.36 million mt in the January-November period of the current year, down 2.6 percent year on year, and the crude steel output for the whole year will definitely indicate a year-on-year decline of over 20 million mt amid production restrictions and shrinking demand during the cold winter weather, marking the first year-on-year decrease since 2016.
The extensive development stage of striving for scale and production is now in the past, and the high-quality development mode with improving efficiency as the core has become the mainstream pattern for the development of the industry in China.
