China has presented a new plan for the steel industry, which includes a set of measures to solve the chronic excess problem. This is against Beijing’s efforts to stop a number of price wars raging in the economy, writes South China Morning Post.
a plan that includes a strict ban on the introduction of additional opportunities and measures to accelerate competition. Monday requires strict control over the throughput and volume of steel production. It emphasizes that stabilization of the industry requires “coordinated efforts for both demand and proposal.”
the purpose of the plan is to “accelerate the transition from old to new growth factors, the development of new productive forces and further increase the stability and safety of industrial chains and supply chains”. The steel industry should strive for an annual increase in value added by about 4% over the next two years and the completion of modernization of more than 80% of the steel capacity to achieve unsurpassedemissions of harmful substances by the end of 0.26% of structural problems in the industry, according to the report.
According to Cinda Securities, in the first half of September 7.44 million tons of five main types of steel products were produced, which is about 5.8% more than the same year earlier. Reserves steel increased by 12.1% to 11.01 million tons, while consumption decreased by about 4.6% and amounted to 8.5 million tons
. The built -in steel price index is currently 3507 yuan ($ 493) per ton, which is about 2.6% higher. In 2024, he reduced the smelting of steel by 1.7% to 1.005 billion tons
