China’s Crude Steel Output Moves Down Marginally in Jun’16

China’s crude steel output in Jun’16 has recorded a marginal fall of 1.46% against previous month. The same is recorded at 69.47 MnT in Jun’16 against 70.50 MnT in May’16.

However, if Y-o-Y comparison is done, country’s crude steel output in Jun’16 is up by 0.75% against Jun’15.

In first six months of year 2016, China’s crude steel output stands at 401.63 MnT, 1.50% down against corresponding period of previous year.

Country’s finished steel output stood at 100.72 MnT, up by 3.2% Y-o-Y basis. For the first six months of 2016, country’s finished steel output totalled to 559.92 MnT against 553.82 MnT in corresponding period of previous year 2015.

In order to deal with the country’s problem of steel overcapacity, China plans to cut its crude steel capacity by 100-150 MnT in coming next five years.