The Chinese government has imposed dual energy and intensity controls on energy-intensive industries such as steel and cement to meet its carbon peaks and carbon neutrality commitments.
Many provinces have been forced to suspend production due to power outages, and steel and other industries are likely to hike prices due to production restrictions.
In the first half of this year, production of steel and steel products in China increased by 11.8% to 563 million tons and by 13.9% to 698 million tons on an annualized basis, respectively. Production capacity has not decreased but increased, which has seriously disrupted the dual carbon target proposal this year.
China accounts for the largest steel exports in the world; therefore, if production constraints cause an imbalance between market supply and demand, this will affect the future trend in world steel prices.
Steel Price Rises in China Amid Peak Carbon Emissions
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Azovpromstal® 29 September 2021 г. 09:54 |
