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China has announced a new two-year plan for its steel industry, setting a target of 4% annual value-added growth while strictly banning any capacity expansion. The move aims to curb overproduction, strengthen supply discipline, and support the profitability of major steelmakers.
The policy focuses on modernisation and green transition, with outdated blast furnaces and converters to be phased out. By 2025, the government expects more than 80% of the country’s steel capacity to meet ultra-low emission standards.
The plan also calls for differentiated management of mills, promotion of advanced technologies, and greater support for leading producers. While analysts note that compliance costs could rise, the measures are expected to improve competitiveness, stabilise supply-demand balance, and accelerate the shift to low-carbon steelmaking.
This strategy reflects China’s broader goal of reducing industrial emissions while maintaining growth in a sector that is central to its economy and global trade influence.
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