China to keep CY’22 crude steel output lower than CY’21 – NDRC

China’s National Development and Reform Commission (NDRC) has announced that crude steel output in CY’22 will be lower in comparison with that of CY’21. The reduction in capacity would be in the areas in and around Beijing, Tianjin, Hebei and the Yangtze river delta along with Shanxi and the Shaanxi plains. China’s Q1CY’22 steel production decreased by 10.5% y-o-y to 243.38 mnt.