China’s steel production dropped a little over 1% to 1,018 million tonnes (mnt) in calendar 2022 against 1,033 mnt in the previous year. And the y-o-y production cuts will continue with a likely 2.5% expected in CY23. However, China is yet to announce any decision on the same yet. A 2.5% reduction on CY22 levels will mean around 25 mnt axed to attain 993 mnt in CY23.
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