ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China's Annual Congress

Global steel industry strengthens as China cuts capacity

Xi flexes muscle to slash 100 million tons in just two years

WATARU KODAKA, TOMOYA ONISHI and SOICHI INAI, Nikkei staff writers | China

TOKYO -- The global steel industry is working its way out of the doldrums as the glut of steel products flooding the market ebbs.

China, producer of half the world's crude steel, has slashed capacity by some 100 million tons -- equivalent to neighboring Japan's total annual output -- and reduced exports by 30% over the past two years.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more