China’s crude steel output down 1.7 pct in March

Beijing, Apr 18: China produced 78.98 million tonnes in March, down 1.7 percent year on year, as mills cut back production due to relatively high stockpiles and weak profits amid the novel coronavirus epidemic, according to government data.

China, the world’s top steel maker, produced 234.45 million tonnes of crude steel during the first quarter, up 1.2 percent from a year ago, data from the National Bureau of Statistics showed.

The country’s output of rolled steel fell 0.1 percent to 98.88 million tonnes in March. Its production in the first quarter reached 267.42 million tonnes, down 1.6 percent year on year.

The epidemic has thrown an impact on the steel sector, driving up inventories and dampening demand at home and abroad.

Inventories of key steel companies hit 17.95 million tonnes in early April, up 88.32 percent from the start of the year, data from the China Iron and Steel Association showed.



Please enter your comment!
Please enter your name here