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China's steel output declined in 2021 as the country strives to meet carbon reduction and carbon neutrality targets, Xinhua news agency reported.
The country produced 1.03 billion tons of steel last year, down 35 million tons from 2020, the China Metallurgy and Steel Association (CISA) said on Monday.
In the first 11 months of 2021, China's steel production reached 946 million tonnes, down 2.6% year on year.
The combined profit of the steel and steel industry rose 86.46% year on year to 351.7 billion yuan (about $55.25 billion) between January and November last year, as rising costs and demand pushed up prices.
CISA said the industry accelerated its green and low-carbon transition last year, resulting in significant reductions in energy consumption and sulfur dioxide emissions per tonne of steel produced.
This year, although investment in the real estate sector is expected to decline but investment in infrastructure will increase, overall steel demand is likely to remain the same as last year, according to the association.
