China pauses steel capacity swap programme, which will limit expansion

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China pauses steel capacity swap programme, which will limit expansion - Channel News Asia

Quick Summary:

BEIJING: China, the world's largest steel producer, will temporarily halt its steel capacity replacement programme from Aug 23 while working to revise the measures, the Ministry of Industry and Information Technology said on Friday (Aug 23).

That came despite steel supply having been on the decline since 2021 when the country started to cap crude steel output to limit carbon emissions.

The ministry said it will work with the relevant parties to study and revise the current swap measures and issue the revised measures after soliciting public opinions, without providing a specific timeline.