Steel production in China in 2022 was over 1 billion tons. Market researchers stated that the government will reduce this figure by 2.5% in 2023.
If such a policy is implemented, the second half of the year will go through a lower production cycle than the first half.
According to the statement of national journalist Nicki Wang, the demand for steel from 920 million tons in 2022 may decrease by 10 million tons this year.
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