China launches 2025–2026 steel plan to boost efficiency, cut emissions, and stabilize supply.

China has launched a 2025–2026 work plan to stabilize and upgrade its steel industry, targeting 4% average annual growth in value-added output. The initiative, led by the Ministry of Industry and Information Technology and four other agencies, bans new steel capacity, phases out outdated production, and supports efficient, competitive firms. It emphasizes technological innovation, high-end product development, digital transformation, and green upgrades, requiring over 80% of steelmaking to meet ultra-low emissions by 2025. The plan promotes steel use in construction and infrastructure to boost demand and encourages international cooperation. Measures aim to balance supply and demand, reduce overcapacity, and enhance long-term sustainability.