[SMM Steel] China to crack down on overcapacity in steel and heavy industries

Published: Mar 5, 2026 15:45

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[SMM Steel] The National Development and Reform Commission (NDRC) announced on March 5 that China will reduce steelmaking and oil refining capacity in an orderly manner to combat persistent oversupply. This repeat pledges from the previous year as the country seeks to address commodity overcapacity in its heavy industries.

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