This new announcement is within market expectations regarding China’s annual crude steel production curbing. But the uncertain depth of this regulation and its broad impacts on the steel and raw materials industry brought mixed sentiments to the market, with some waiting for more specific regulations for the rest of 2024, sources told Fastmarkets. In 2021 and 2022, the Chinese government required a year-on-year decrease in annual crude steel output to follow the country’s carbon peak and carbon neutrality goals. But the official notice on April 3 focused on crude steel output adjustment for different steel mills to ... (full story)