China orders analysis, reduction of crude steel production

China this week announced plans to analyze the country’s steel industry as it looks to reduce crude steel output in 2021. The analysis of steel capacity reduction “will focus on the inspection of the implementation of steel capacity reduction work and the implementation of rectification in all relevant regions since 2016,” the National Development and Reform Commission and the Ministry of Industry and Information Technology said in a notice published on Thursday, according to an informal translation. Global steel overcapacity...