The use of green and low-carbon technologies in emerging sectors is another priority of the policy document.

These were major goals set in a development guideline jointly released by the Ministry of Industry and Information Technology, National Development and Reform Commission, and the Ministry of Ecology and Environment.

Zhang said he believes China Baowu Steel Group, and Anshan Iron & Steel (Ansteel) and Benxi Iron & Steel (Bensteel) are potential M&A candidates.

Rise to balance demand, supply, and cut output, energy use for green goals.

In 2020, crude steel output rose by 5.2 percent year on year to exceed 1.05 billion tonnes, according to the China Iron and Steel Association.

Export tariffs on ferrosilicon, ferrochrome, high-purity pig iron would be raised to 25 percent, 20 percent and 15 percent, respectively.

Tariffs on exports of products such as ferrosilicon, ferrochromium, and high-purity pig iron will be raised temporarily to a rate of 25 percent, 20 percent, and 15 percent, respectively.

The US Department of Commerce adopted a final rule Sept. 11 to modernize the Steel Import Monitoring and Analysis (SIMA) system, it said in a statement.