Steel Gains as China Curbs Overcapacity in Commodity News 06/03/2026 Steel rebar futures rose above CNY 3,080 per ton, approaching one-month highs as China renewed its pledge to support the steel sector by curbing excess capacity. Economic planners at the National People’s Congress signaled plans for orderly reductions in steel capacity, a move that could lift steel prices and improve profit margins. Chinese steel mills continue to face pressure from persistent oversupply amid a prolonged property sector downturn, while steel exports are increasingly constrained by protectionist measures abroad. Beijing issued similar pledges during the 2025 policy meetings, though the outcomes were mixed. The country’s steel output fell below 1 billion tons last year for the first time since 2019, although some analysts questioned the reliability of the official figures. China also set a 2026 GDP growth target of 4.5%–5%, the lowest since the early 1990s, as policymakers grapple with ongoing deflationary pressures and higher US tariffs. Source: Trading Economics 2026-03-06 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share