S&P Global Platts

China’s steel prices saw a rollercoaster ride in 2021 owing to mandatory steel output cuts aimed at reducing the sector's carbon emissions. Markets are expected to see less volatility in 2022 as similar tough output cuts are unlikely to this year.

China's crude steel output is expected to rise in the first half of 2022 and then decline in the second half, with full-year production remaining within 2021 levels, industry sources and market participants told S&P Global Commodity Insights.

The fluctuation in steel prices is expected to narrow, but average annual prices may drop a notch due to sluggish demand in general.

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