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CHINA’S STEEL OUTPUT HITS A RECORD HIGH

  • China produced 89.09 million tonnes in May
  • Steel output to remain high, says analyst

China’s National Bureau of Statistics (NBS) reported a crude steel output of 89.09 million tonnes in May, which marks a new record high. Last month, China produced 85.03 million tonnes of crude steel, while in May last year, China’s output was registered at 81.13 million tonnes.

“Steel output will remain at a high level in the coming months, with more lenient production restrictions at major steelmaking cities in summer and expectations of robust demand from construction sites,” said Zhuo Guiqiu, an analyst from Jinrui Futures.