China: Crude steel output falls by 3% to 1.03 bn t in CY’21

China’s crude steel output stood at 1.03 bn t in CY’21, down 3% from 1.065 bn t in CY’20, according to the National Bureau of Statistics (NBS) data. Strict production curbs and China’s target to reach peak carbon by CY’30 were the major reasons behind the decline in production. In Dec’21, production increased 25% to 86.91 mn t against 69.31 mn t in Nov. However, Dec output fell by 7% y-o-y.