China’s crude steel output fell slightly in July from previous month, rose 11.5% on year – official data
COMMODITIES DATA
China’s crude steel output fell slightly in July from previous month, rose 11.5% on year – official data
COMMODITIES DATA

China’s crude steel output fell slightly in July from previous month, rose 11.5% on year – official data

 

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China’s crude steel output reached 90.8 million tonnes in July, according to data released by the National Bureau of Statistics, falling by 0.34% from the previous month, but rising 11.5% from a year earlier when steel mills cut production amid shrinking margins.

Average daily steel output in July was about 2.93 million tonnes, down 3.6% from 3.04 million tonnes in June but up from 2.63 million tonnes in July 2022.

China’s top steelmaking hub Tangshan stepped up production controls in late July by requiring some mills to suspend operation of at least one blast furnace until the end of July, cutting about 488,200 tons of hot metal output, according to consultancy Mysteel.

In addition, several steel mills in southwest China’s Sichuan province scaled down production to ensure normal power supply during the holding of the FISU Summer World University Games over July 28-Aug. 8 in provincial capital Chengdu.