Zou Jixin, chairman of Chinese steelmaker Baoshan Iron & Steel Co (Baosteel), has stated that the country’s crude steel output in 2023 is expected to move sideways or decrease slightly compared to 2022 depending on the government’s policy to reduce steel output in line with its carbon neutrality target by 2060, according to a report by Reuters.
In 2022, China produced 1.01 billion mt of crude steel, down by 2.1 percent year on year.
In addition, in the first quarter this year, Baosteel produced 12.83 million mt of steel and aims to produce 50.89 million mt in 2023.