Yu also called on steel mills to prepare for further Sino-U.S. trade friction and to pay close attention to the indirect impacts on Chinese steel exports. China will focus on optimising its steel industry this year , as it continues to streamline the industry towards " high quality production " over " fast - speed development " , according to the chairman of the country 's Iron and Steel Commission . Having curbed almost 300 million metric tonnes ( tonnes ) of low - carbon steel since 2016 , Yu Yong said that the country would now focus on adjusting the structure and functionality of its steel mills , as well as encouraging mergers and acquisitions . Meanwhile , a report by the China Metallurgical Industry Planning and Research Institute predicted domestic consumption would fall another 20 million mt YoY in 2019 .
China will focus on optimising its steel industry this year , as it continues to streamline the industry towards " high quality production " over " fast - speed development " , according to the chairman of the country 's Iron and Steel Commission . Having curbed almost 300 million metric tonnes ( tonnes ) of low - carbon steel since 2016 , Yu Yong said that the country would now focus on adjusting the structure and functionality of its steel mills , as well as encouraging mergers and acquisitions . Meanwhile , a report by the China Metallurgical Industry Planning and Research Institute predicted domestic consumption would fall another 20 million mt YoY in 2019 .