China iron, steel capacity swaps unlikely to curb 2021 capacity growth

摘要

China’s move to announce revised iron and steel capacity replacement measures May 6 is not expected to pose challenges to the country’s iron and steel capacity expansion plans in 2021 as strong margins continue to favor businesses while several projects were seen escaping the fresh measures, market sources told S&P Global Platts. As part of the measures, China is looking to target reduction of iron and steel capacity, accelerate steel industry consolidation, and promote the development of electric arc furnaces, and other environmentally friendly steelmaking facilities.