Chinese government fast-pedalling crude steel output cuts

As per directives issued by the Chinese government, many provinces have rolled out policies in regard to steel production curbs. On 28 Jun ’21, the excess capacity resolving office of Gansu province issued a notice requiring local steel mills to pull the brakes on crude steel output in 2021, if volumes exceeded those recorded in 2020, as per SteelMint reports. On Jun 29, officials in Anhui province convened a meeting to deliberate on slashing steel production, in an effort to intervene early so that steel output could be reduced compared with 2020. Chinese authorities have zeroed in on the singular task of crude steel output reduction in 2021, and the respective provinces are required to abide by government policy.