Steel-making province in China cuts output, to impact ore imports
Iron ore prices continue to plummet in recent days after Tangshan in North China’s Hebei Province – one of the country’s top steel-producing provinces – started to curb production amid China’s environmental protection efforts, which triggered worries over future iron ore demand.
According to domestic news site guancha.cn, citing a report from industry website Mysteel, Tangshan local authorities held an emergency meeting on environmental protection on Monday, asking local industrial enterprises to implement production suspensions and restrictions from Tuesday to Thursday.
The last time the Tangshan government issued such a warning was in 2017.
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China may increase steel imports to meet home demand and cut carbon emissions: experts
Iron and steel industry experts suggest that importing more crude steel like billets from countries including India, Indonesia, Russia and Germany is a potential solution to the plight that domestic steel supplies are insufficient to meet the surging demands as China seeks to cut carbon dioxide emission to achieve the carbon neutrality goal by 2060.
China Iron and Steel Association (CISA) on Thursday published an interview on He Wenpo, Executive Chairman of CISA, in which He shared views in regard to hot questions surrounding the steel sector. He calls for enlarging the import of crude steel to meet rising domestic needs, which could ease the impact on environment and resources imposed on steel supplies.
China plans to reduce output of steel, aluminum to achieve carbon neutrality | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
SOURCE / ECONOMY
Nation to cut steel output as it targets carbon neutrality By Chi Jingyi and Tao Mingyang Published: Mar 03, 2021 09:28 PM
An alloy bar production line at a steel producer in Ma anshan in East China s Anhui Province on November 11 Photos: cnsphoto
The price of screw-thread steel hit 4,910 yuan ($759.5) per ton on Wednesday, the highest since October 2011, after several provinces announced plans to limit steel production to reduce carbon emissions.
Since the start of the Spring Festival, Tangshan in North China s Hebei Province has been among those provinces.
Tangshan said that it will implement total volume controls on a pilot basis in the steel industry and gradually extend those controls to coking, cement, power and the foundry industry. The overall goal is to reduce emissions, including carbon emissions, by more than 40 percent from 2020 levels.