China continued growth in steel production in March

According to the data of the China Association of Iron and Steel Industry CISA, metallurgical companies of China smelted 2.096 million tons of steel daily in March against 1.970 million tons in February.

The growth in steel production comes against the backdrop of the policies pursued by Prime Minister Li Keqiang, who said that he will seek tariff cuts and some taxes to ensure the country's economy grows at 7.5 percent.

Improving sentiment in the steel industry in China noted iron ore suppliers. So in March, the Australian port of Hedland announced a record growth in shipments of iron ore to China from 21 to 27 million tons.