Tuesday, November 30, 2021
News

China's steel industry's output to be lower in 2021

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Beijing | October 27, 2021 3:17:02 PM IST
China Iron and Steel Association on Monday said that the country's annual steel output is expected to be lower this year than in 2020, a media report stated.

The average daily output of crude steel was down 21.2 per cent year-on-year in September at around 2.5 million tonnes, Caixin Global reported citing National Bureau of Statistics figures.

Wang Yingsheng, the industry association's deputy secretary-general and chief economist, said that if output remains at this level in the fourth quarter, total annual production will likely be down about 30 million tonnes to just over 1 billion tonnes.

If that is the case, the industry would successfully meet the government's target of decreasing annual output year-on-year, Wang added.

Stressing that unlike last year, when output bottomed out in the first four months due to COVID-19, Wang said that this year's output started at a higher level and declined gradually during the second half.

The communist regime has sought to rein in the steel industry for several years and since 2017, steelmakers have had to show that plans to add capacity must include the retirement of a comparatively greater amount of existing capacity.

It rose up the political agenda when last year China announced its plans to achieve carbon neutrality by 2060. The steel sector accounts for about 15 per cent of the country's carbon emissions, according to Caixin Global. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE WORLD NEWS
Sindh, Balochistan provinces to face gas...
Mexico: Over 95,000 registered as disapp...
Causalties feared as blast hits Kabul...
Parag Agrawal joins list of Indian-origi...
Blast rocks Afghan capital Kabul, no cas...
Pak: FIR lodged against PTM, ANP head fo...
More...
 
INDIA WORLD ASIA
Amid Covid, Nagaland's Hornbill Festival...
CEO Parag Agrawal hopes to extend Twitte...
Winter session: Manickam Tagore moves ad...
Mamata wants to lead Opposition, Sonia G...
Delhi AQI remains in 'very poor' categor...
SC grants 7 days to Vikas Dubey's wife t...
More...    
 
 Top Stories
Rusia: 'The Afghan money must be un... 
Pashtun Tahafuz Movement holds powe... 
BBL: Hobart Hurricanes rope in Ian ... 
Suspended TMC MPs to stage sit-in d... 
West Bengal extends Covid-19 restri... 
Will double down on India growth in... 
Delhi Police arrests two more arms ... 
Richa Chadha says podcasts are a po...