According to recent data released by National Bureau of Statistics, China’s crude steel output in Mar‘17 increased drastically by 17%,M-o-M basis and was recorded at 72 MnT in Mar’17 against 61.5 MnT in Feb’17.
However, on yearly premises China’s crude steel output witnessed the minute rise of 2% in Mar’17 as compared to previous year. In Mar’16 the same stood at 70.65 MnT.
In Q1 CY17, (Jan-Mar’17) nation’s crude steel output increased by 4.3% to 200.7 MnT as compared to 192.35 MnT in similar time frame of previous year.
Despite facing downstream in prices coupled with dull domestic demand,Chinese mills are having excess of steel production,and it seems they are overlooking any preventive measures to avoid the issue of steel glut in the global market.
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