China, the world's largest steel producer, adopted controls
on crude steel output in 2021 after pledging to reach peak
carbon dioxide emissions by 2030 and achieve carbon neutrality
by 2060.
Its output in 2022 fell by 1.7% year-on-year to 1.018
billion tonnes.
The consolidation in Chinese steel industry will
accelerate in the coming three to five years and large firms
would hold a 65% share of the domestic market within five years,
up from 43% currently, Zou added.
(Reporting by Amy Lv and Dominique Patton in Beijing; Editing
by Muralikumar Anantharaman and Christina Fincher)
(Adds comments on large steel mills' market share growth
forcast)
BEIJING, April 28 (Reuters) - China's biggest listed
steelmaker, Baoshan Iron & Steel Co , expects the
country's 2023 crude steel output to be flat or slightly lower
than last year, an executive said on Friday, in line with
broader market expectations.
China's huge steel market is waiting for official
confirmation that Beijing will continue a mandate started in
2021 to cap steel output to help it meet emissions goals.
The comments on output were made by chairman Zou Jixin
during a briefing after the release of Baosteel's first-quarter
earnings.
Baosteel produced 11.87 million tonnes of iron and 12.83
million tonnes of steel in the first quarter of 2023.
It is aiming to produce 48.77 million tonnes of iron and
50.89 million tonnes of steel this year, the company also said
during the briefing.
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