China's steel output in March jumps to a record high
DSIJ Intelligence / 17 Apr 2017
In the first quarter, China's steel production totalled 201.1 million tonnes, up 4.6 per cent over the same period in the previous year.
China’s steel output in March rose 1.8 per cent to a monthly record of 72 million tonnes. As per the data available with the National Bureau of Statistics on Monday, Chinese steel output in March easily beat the previous record of 70.65 million tonnes hit in March 2016.
In the first quarter, China's steel production totalled 201.1 million tonnes, up 4.6 per cent over the same period in the previous year.
Chinese steel output has been growing faster that the country’s actual demand, which is indicated by its rising inventory levels and the recent fall in the prices.
The most active steel rebar futures prices were down 1.15 per cent at 2,918 yuan ($423.90) per tonne at 0243 GMT, on track for a 7.8 per cent drop in April, their worst monthly performance since May last year.
Over 2016, the steel rebar futures gained more than 70 per cent, and they are still up nearly 10 per cent so far this year.
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