China’s Ministry of Industry and Information Technology (MIIT) has issued its raw material industry development plan for the 2021-25 period, aiming to reduce commodity production capacity, including crude steel and cement, with capacity utilization rates to be kept within reasonable levels.
By 2025, the overall energy consumption of steel per metric ton will decline by two percent. Moreover, China will curb excess capacity via measures to control carbon emissions, pollutant emissions and energy consumption. At the same time, China will explore the establishment of off-peak production mechanisms in the steel industry and in other industries.