US Approves $108 Million Hawk Missile System Support Package for Ukraine 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
Gold Prices Slip as Stronger Dollar and Iran Peace Talk Uncertainty Weigh on Market 
U.S. Sanctions Tanzanian Police Official Over Human Rights Violations 
European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
Trump Signs Executive Order to Expand Access to Federal Lands in the U.S. 
FIFA Faces Investigation Over 2026 World Cup Ticket Pricing and Seat Allocation Issues 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
U.S. Removes Francesca Albanese From Sanctions List After Court Ruling 
US Quantum Stocks Surge After $2 Billion Government Investment 
Wall Street Hits New Highs as U.S.-Iran Ceasefire Talks Boost Market Sentiment 
Oil Prices Set for Sharp Weekly Losses as U.S.-Iran Ceasefire Hopes Ease Supply Concerns 
U.S. Launches New Strikes on Iran as Trump Signals Peace Deal Uncertainty 
China has announced it will continue strict regulation of crude steel output and prohibit the addition of illegal new capacity from 2026 to 2030, reinforcing its long-term strategy to curb overcapacity and reduce carbon emissions. As the world’s largest steel producer and consumer, China first halted growth in crude steel production in 2021, aligning industrial policy with its climate goals and broader supply-side reforms.
The policy comes as China’s steel industry continues to grapple with weak domestic demand, largely driven by a prolonged downturn in the property market. Reduced construction activity has weighed heavily on steel consumption, leaving producers facing persistent oversupply and margin pressure. According to official data, China’s crude steel output fell 4% year-on-year in the first 11 months of 2025, putting full-year production on track to drop below 1 billion tons for the first time in six years.
In a statement, the National Development and Reform Commission (NDRC) said the raw materials sector, including steel, is struggling with an imbalance between supply and demand. The agency emphasized that deeper supply-side reform will be a key priority during the Fifteenth Five-Year Plan period from 2026 to 2030, adding that the industry must promote “survival of the fittest” to improve efficiency and competitiveness.
While domestic demand has weakened, China’s steel exports have remained strong since 2023, helping mills offset losses at home. However, the surge in exports has triggered a growing protectionist response globally. An increasing number of countries have imposed trade barriers, arguing that low-priced Chinese steel products harm local manufacturers and distort markets.
In response to mounting trade tensions, Beijing recently unveiled plans to introduce a licensing system from 2026 to regulate exports of around 300 steel-related products. The move signals tighter oversight of outbound shipments and reflects China’s intention to balance industrial stability, environmental goals, and international trade pressures as it reshapes its steel sector over the next decade.
