According to an official document reviewed by Reuters and a source familiar with the matter, China will seek to reduce its steel production between 2025 and 2026.
The world’s largest steel producer pledged in March to restructure its massive sector by cutting output, but it did not disclose key details such as the scale of the reductions and their timing.
China’s crude steel output fell by 3.1% in the first seven months of this year compared to the same period last year, reaching 594.47 million tons, according to official data.