China's crude steel output in 2023 remained flat, defying expectations of the first rise in three years. The absence of government caps on output and resilient demand from sectors like shipbuilding, solar photovoltaic, and automotive contributed to the stability. However, a decline in crude steel production in December and some environment-related restrictions led to a decline in monthly production. China plans to promote a green transition and control new steel capacity in 2024, with a forecasted 1.7% decline in steel demand.

China's Crude Steel Output Stays Flat