Chinese Steel Industry will be more Concentrated with the Advancement of Mergers and Reorganisations

Published: Mar 7, 2023 13:18

Source: SMM

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On February 28, the National Bureau of Statistics released the 2022 National Economic and Social Development Statistics Bulletin.

SHANGHAI, Mar 7 (SMM) - On February 28, the National Bureau of Statistics released the 2022 National Economic and Social Development Statistics Bulletin. Crude steel output fell due to the steel mills' losses and the advancement of the output control policy.

With the capacity reduction and the merger and reorganisation of steel mills, the concentration of the Chinese steel industry continues to rise. In 2022, Chinese crude steel output across the top 10 steel mills reached 42.9%, an increase of 0.8% from 2021. Recently, the Ministry of Industry and Information Technology, the National Development and Reform Commission and the Ministry of Ecology and Environment issued the Guiding Opinions on Promoting the High-Quality Development of the Iron and Steel Industry.
The leading enterprises in the industry are encouraged to implement mergers and reorganisations to build world-class super-large iron and steel enterprise groups. Therefore, the Chinese iron and steel industry will be more concentrated in the future.

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