STEEL NEWS

China's steel production to peak around 2025

China's crude steel production will peak at 1.16 billion tonnes in 2025, when carbon emissions from the sector will also peak, a government consulting agency reported on Saturday, March 20, Reuters reported.

"Output is just an estimate, but it is a trend," said Li Xinchuan, chairman of the China Metallurgical Planning and Research Institute, at an industry conference in Beijing.

By 2030, carbon emissions from the steel sector are projected to fall by 30% from their peak, and the industry is aiming to cut emissions by 420 million tonnes.

“The task is very difficult,” Lee said, adding that state-owned enterprises should take the lead.

China's two leading steel producers, China Baowu Steel Group and HBIS Group, have set individual targets for peak carbon emissions in 2023 and 2022, respectively.

According to Li, the industry should change the situation of "shipping steel from the north to the south market" and significantly reduce the capacity for the production of long products in the Beijing-Tianjin-Hebei region.

He also proposed to improve the structure of raw materials and develop low-carbon technologies, "hydrogen metallurgy and cost reduction are key."

China produced 1.065 billion tonnes of steel in 2020, accounting for 57% of the world's total production.