China steel supply needs adjusting, industry official says

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BEIJING : Steel supply in China, the world's top consumer and producer, will need to be adjusted in the coming months to match a seasonal drop in demand, industry officials said, also noting that orders from exporters this quarter have fallen.Chinese steel consumption fell 1.

FILE PHOTO: A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. Picture taken August 6, 2018. REUTERS/Damir Sagolj/File photoBEIJING : Steel supply in China, the world's top consumer and producer, will need to be adjusted in the coming months to match a seasonal drop in demand, industry officials said, also noting that orders from exporters this quarter have fallen.

China has capped growth in its steel production for the last two years to curb carbon emissions, but not issued a similar mandate so far this year. "Steel demand will typically contract in winter; in this case, adjustment is needed in the supply side to achieve a balance," he said.China's steel supply and demand in the fourth quarter is set to fall, CISA officials added, noting that output could be restricted due to environmental concerns.

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