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MIIT: Steel output should be cut in four aspects

Huang Libin, the Spokesman of China's MIIT (Ministry of Industry and Information Technology) and Director of the Operation and Monitoring Department under MIIT, pointed it out on January 26th during the press conference of the State Council Information Office that cutting steel output is a major measure for China to realize tasks related to peak carbon emission and carbon natural, adding that MIIT will boost cutting steel output in four aspects. MIIT will study and formulate relative work plans so as to ensure the comprehensive realization of the steel output decrease in 2021 on year-on-year basis.

It's introduced that the four aspects include prohibiting the adding of new steel production capacity, optimizing relative policies, boosting restructuring and acquisition in steel industry and cutting steel output.

According to Huang Libin, in order to improve China's ability to guarantee iron ore resources, 80% of which are depended on import, MIIT and relative departments are boosting relative work to establish overseas iron ore mines that have a strong influence worldwide and high competitiveness.