Despite a three-year campaign to cut overcapacity and government restrictions to combat smog, the country's steelmakers continued to set monthly production records.
China's steel production rose 7.2 percent in July from a year earlier to 81.24 million tonnes, according to the National Bureau of Statistics (NBS), a third straight month above 80 million tonnes.
This year, production is 6.3% ahead of the record high in 2017, which ensured a production output of 884 million tons.
The steel indicator was significantly higher than the official PMI reading for all production, which reached 51.3 from 51.2 months ago. The World Steel Association last year accounted for 49.2 percent of global steel production. In figures compiled in May, China's share of the reported global population reached 50.7 percent.
On a 2017 level, China produced more steel in a month than the United States in a year.
China's steel production hits new high
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Azovpromstal® 8 September 2018 г. 15:09 |
