UPDATE 1-China to cut steel output for third year - Bloomberg News

(Adds no comment from government, data on output) March 15 (Reuters) - China will again cut annual crude steel production in 2023, marking the third year in a row that the government has mandated reduced output, Bloomberg News reported on Wednesday.

As part of the plan, the government will also ban new steelmaking capacity, the report added, citing a person familiar with the decision. China's state planner, the National Development and Reform Commission (NDRC), and the Ministry of Industry and Information Technology (MIIT) did not immediately respond to requests for comment.

Beijing has mandated zero growth in steel output since 2021 as it seeks to meet a target for peak carbon dioxide emissions by 2030. China's output, by far the world's largest, fell 1.7% in 2022 to 1.018 billion tonnes.
(Reporting by Amy Lv and Dominique Patton in Beijing; Editing by Toby Chopra and Andrew Heavens)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

UPDATE 1-China to cut steel output for third year - Bloomberg News

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio