Many provinces have had to suspend production due to the power outage, and steel and other industries are likely to raise prices as a result of production restrictions.
In the first half of this year, China's production of crude steel and steel products rose 11.8 percent year on year to 563 million tons and 13.9% to 698 million tons. Production capacity has not decreased, but increased, seriously violating this year's proposal for dual carbon targets.
China has the largest steel export volume in the world; therefore, if production restrictions cause an imbalance between market supply and demand, it will affect the future trend of international steel prices.
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