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Home > MEPS Steel News - 14.03.2013

NEW RULES TO MAKE CHINESE STEEL INDUSTRY GREENER

Special emissions restrictions are to be put in place by the Chinese environment agency in April, this year. These will affect the steel and several other polluting industries. The big question is, “Will they work?”

New regulations were put in place several years ago as the government tried to meet its agreed targets in conjunction with other countries. Large steel companies complain that by investing in cleaner processes, they are disadvantaged by their smaller competitors. This is probably true.

MEPS have noted that a significant amount of under-reporting of steel production has occurred over the past four or five years. This fact has now been acknowledged by the authorities. Is it possible that these two factors are linked? MEPS believes that this is probable. The under-reporting of steel production became more apparent after the clampdown on emissions towards the end of the last decade. Disclosure of higher steel output would have alerted the authorities to greater emissions.

Could it be that we need to prepare for more under-reporting of steelmaking in the future – as a result of the new emissions regulations? The authorities may need to be more diligent, this time, in monitoring real output from the steel sector in the months and years ahead.

Source: MEPS China Steel Review


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