He Wenbo, chief executive officer of the China Iron and Steel Association (CISA), stated at the 11th China International Steel Congress held at Shanghai, that, as of the end of February this year 620 million mt crude steel capacity in China belonging to a total of 229 steel producers has been transformed or is undergoing transformation to ultra-low emissions.
Mr. He said, “The transformation to ultra-low emissions will cost Chinese steelmakers a lot of money; for instance, the overall investment of China’s steelmakers will reach RMB 260 billion ($41 billion), while increasing the operational cost by RMB 50 billion ($7.85 billion) annually.”
The crude steel output in China amounted to 1.065 billion mt in 2020.