China aims to increase iron and steel production capacity

China's Iron and Steel Association (CISA) states that on February 20, 2023, total domestic stocks of the five major finished steel products will reach 13.72 million tons in 21 cities, an increase of 1.0 million tons, or 2.3%, from February 10. announced its arrival. In addition, seven major steel producers aim to increase their production capacity. In the statement made by the steel producers, they stated that they want to increase the annual steel production from 6.13 million tons to 8.32 million tons and the iron production capacity from 7.3 million tons to 10.73 million tons. The specified regions are; Guangdong, Jiangxi, Shaanxi, Guangxi, Jilin, Jiangsu, Hubei.