China plans to reduce steel production

China wants to reduce its own steel production this year to protect it from the adverse effects of climate change. However, the people concerned think that it will be very difficult. In the first half of this year, China’s steel mills refined 12 percent more crude steel than in the same period last year. This is according to a report by the British research institute Wood Mackenzie. News CNBC.

The country produced 99.5 million tonnes of steel in May, the highest on a monthly basis. In June, it was reduced to 9 crore 39 lakh tons. This information is based on a report of Reuters.

The steel industry is one of the most polluting industries in China. The industry accounts for 10 to 20 percent of the country’s total carbon emissions. As a result, Beijing has decided to rein in the steel industry to reduce carbon emissions. The country wants to reduce its carbon emissions to zero by 2060. Analysts say that even if production declines in the second quarter of the year, it will be much harder to reduce production than in 2020.

Sunbd/NJ