Commodities 2023: China likely to tone down domestic steel capacity, targets ASEAN nations

China would aim to contain its steel production growth in 2023 and focus more on environmental-friendly capacity swaps, but it remains keen on making capacity investments in ASEAN countries to keep its behemoth steel industry running, information gathered from sources by S&P Global Commodity Insights show. In 2022, China commissioned about 30 million mt/year of new blast furnaces and 25…