Rolls of steel are stacked inside a China Steel Corp factory in Kaohsiung on Aug. 26, 2016. However, global steel supply might fall as China continues to lower its steel output to meet its target of carbon neutrality, it said, adding that South Korea is also reducing its steel manufacturing to curb carbon emissions. South Korea’s Pohang Iron and Steel Co last month terminated a furnace with a capacity of 1 million tonnes per year, China Steel said. Luxembourg-based ArcelorMittal SA is to raise prices of some steel materials by 30 to 50 euros per tonne, China Steel said. Steel prices have also increased in northern and southern Europe, it said.

Source: Taipei Times January 14, 2022 16:47 UTC