China needs to tackle its steel glut by cutting 15% of capacity this year, if mills are to meet their 2025 climate goals and return to profitability, according to clean energy analysts.
China needs to reduce its steel production capacity by 15% this year to meet 2025 climate goals and improve profitability. This reduction, equivalent to the European Union's total steel capacity, is necessary to address overproduction, reduce emissions, and transition to cleaner technologies like electric arc furnaces and green hydrogen.
