As a forerunner of the supply-side structure reform, China’s iron and steel industry actively resolves its overcapacity. More than 1.2×10⁸ t of excessive steel production capacity has been resolved between 2016 and 2017, and 1.4×10⁸ t of illegal production capacity, such as “substandard steel” has been eliminated. As the global iron and steel industry is currently in the excess production capacity cycle, China's steel consumption has developed from a sustained growth phase to a peak value platform area. Meanwhile, both the crude steel consumption intensity per unit GDP and that per unit investment has decreased. It is expected that the consumption demand and output of crude steel in China will reach 6×10⁸-6.5×108 t and 6.5×10⁸-7.0×10⁸ t by 2025, respectively; and these same items will reach 5.3×10⁸-6.0×10⁸ t and 5.9×10⁸-6.5×10⁸ t by 2030, respectively. Meanwhile, the supply of steel scrap resources in China will increase rapidly, and the sufficient steel scrap resources will become a strong support for China’s iron and steel industry. The structure of iron resources will also be greatly changed, and the demand for international iron ore resources will decrease gradually. All the changes are important in promoting ecological civilization construction and green development.