Global News Of Note: China Says It Will Reduce Steel Capacity
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- According to Reuters, an official document from the Chinese government outlines how the country will reduce new steel capacity and steel production between 2025 and 2026. The planning document came from the industry and environment ministries and other agencies. Though the draft plan did not set targets for the cuts, it acknowledged, “The steel industry is currently facing excess supply and insufficient effective demand, leading to a supply-demand imbalance that affects development quality and efficiency.”
- Meanwhile, Chinese exports of steel in semi-finished form have more than quadrupled so far this year. In the first seven months of 2025, exports of these products increased 320 percent to 7.4 million tons, according to Chinese customs data. In July alone, the volume reached more than 1.5 million tons, or about 14 percent of total steel shipments to the rest of the world. Read more at this link.