China: Crude Steel Output Surge 6% Y-o-Y in Jan-Feb’17

According to recent data released by National Bureau of Statistics, China’s crude steel output has increased by 6% to 128.77 MnT in the duration of Jan-Feb’17 as compared to 121.70 MnT in similar time frame of previous year.

Higher profit margins coupled with optimistic sentiments prevailing in China’s domestic market has motivated the Chinese mills to produce more crude steel output.

Although, in Feb‘17 China’s crude steel output plunged by 8.4%,M-o-M basis and was recorded at 61.5 MnT against 67.2 MnT in Jan’17.

However, on yearly premises China’s crude steel output witnessed the growth of 5% in Feb’17 as compared to previous year.In Feb’16 the same stood at 58.5 MnT.