China’s crude steel output dropped over 10% y-o-y in Jan-Mar’22 to 246 mnt. While Hebei turned out 46.77 mnt of crude steel during the period, Jiangsu province produced 30.82 mnt. Among the other provinces, Liaoning and Shandong produced 18.84 mnt and 16.74 mnt respectively. If output is not to exceed 2021 level of 1.03 bnt, as per NDRC, production in the remaining quarters is expected to touch 790 mnt, at a rate of 87.70 mnt per month.
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