For the sixth month in a row, China's crude steel production increased from the previous month. However, the finished product output declined slightly during August. Meanwhile, steel consumption declined in the first eight months of this year compared to the same period in 2015.
According to government data, the country's crude steel output was 68.57 million tonnes in August 2016, up 2.6% from the previous month and 3% up from the same month a year earlier. Cumulative steel production in the first eight months of this year was 536.32 million tonnes, a slight drop of 0.1% compared to January-August 2015 production.
Chinese steel consumption in August this year was up almost 5% over the previous year. However, steel consumption from the beginning of the year to August decreased by 2.45% compared to January-August 2015.
It is estimated that Chinese steel production is likely to peak at around 935 - 985 million tonnes in the mid-2020s, registering 1% annual growth. However, demand growth is projected to remain volatile during this period.
China's steel production rises in August
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Azovpromstal® 21 September 2016 г. 09:17 |
