China – world’s largest steel producer has recorded increase of about 5% in its quarterly crude steel output in Q1 CY18. China’s crude steel production stood at 211 MnT in Jan-Mar’18 up by 5% against 200.9 MnT in Q1 CY17.
On quarterly basis, nation’s crude steel performance reported increase of 3% in comparison to 205.55 MnT in Q4 CY17.
In Mar’18, China’s crude steel output was recorded at 73.98 MnT, up by 3% compared to Mar’17.
Despite production cuts announced by the Chinese government in Northern Tangshan cities, other steel mills have raised their capacity utilization in first quarter of CY18.
In CY17, China’s crude steel output was up by about 6% Y-o-Y to 831.7 MnT.
Higher steel prices supported increased crude steel output- In the month of Mar’18 average domestic prices of HRC stood at RMB 3,940/MT (ex-works eastern China), up by RMB 400/MT in Mar’17.
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