Print Edition - 2018-06-15  |  Money Digest

China steel output jumps to record

BEIJING/MANILA

Jun 15, 2018-

China’s steel output surged to a record in May as mills ramped up production to chase fat profit margins, with a strong outlook for demand likely to keep mills running at nearly full capacity for the rest of the year. The increased output comes despite China’s efforts to limit production in key areas as part of its anti-pollution campaign and highlights Beijing’s challenge in tackling overcapacity in the world’s top steel producer. China produced 81.13 million tonnes of crude steel last month, up 5.8 percent from the previous month and 8.9 percent from the same month last year, according to data from the National Bureau of Statistics. Year-to-date output rose 5.4 percent to 369.86 million tonnes. Daily average output climbed 2.4 percent to 2.62 million tonnes in May from April, according to Reuters’ calculations based on the official data. (REUTERS)

Published: 15-06-2018 08:06

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