Steel smelting in China was slightly reduced

According to the Reuters information agency, the production of steel in China for September 2012 amounted to 57.95 million tons. This indicator became the lowest for this year, after the February decline in production. The drop in production volumes in September compared with August 2012 amounted to about 1%.

A couple of months ago, the Chinese Association of iron and steel manufacturers (China Iron & Steel Association) published a forecast for an increase in annual smelting steel by 1.6% in 2012 compared to 2011. Until September, Chinese metallurgists were within this forecast and in January -September Chinese production steel amounted to 542.3 million tons, which is 1.7% higher than the same period last year.

As we recently reported, in September, the Chinese were limited by production capacities due to low demand for metal rolling, but in early October, the average daily production of steel was increased by more than 4% and reached 2 million tons.