CISA: China not to allow steel exports in large quantities
Time:Fri, 05 Nov 2021 08:52:30 +0800
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Wang Yingsheng, the chief economist of the China Iron and Steel Association (CISA), said that crude steel output in the fourth quarter needs to be further reduced in the absence of an increase in crude steel output throughout the year.
In September this year, China produced 73.75 million tons of crude steel, down by 21.5% year on year. However, in the first three quarters of this year, crude steel production reached 805 million tons, up by 2% year on year.
According to the National Bureau of Statistics of China, the average daily crude steel output has fallen for five consecutive months, reaching around 2.46 million tons in September, down by about a quarter from April levels.
In the next decade or more, the industrial base of China's steel industry will not change, and it will still need to stabilize at the level of annual crude steel output of about 1 billion tons.
Due to concerns about the dual controls of energy consumption and the requirements of carbon peak and carbon neutrality, China doesn't allow the exporting of steel products in a large amount.
