China cuts steel production for the third month in a row

In January-July, China reduced steel production by 3.1% compared to the same period a year earlier, to 594.47 million tons, according to the country's State Statistics Service.

This is the minimum production volume for this period since 2020.

In particular, in July, steel production decreased by 4% year-on-year and amounted to 79.66 million tons. The decrease was recorded for the third month in a row.

Pig iron production in January-July decreased by 1.3% to 505.8 million tons. In particular, last month the production volume amounted to 70.8 million tons, which is 1.4% less than in the same month a year earlier.