China-world’s largest crude steel producer has reported highest ever output of 74 MnT output in July’17.
According to recent data released by National Bureau of Statistics, China’s crude steel output in Jul’17 was assessed at 74 MnT, higher by 1% as compared to 73.23 MnT in Jun’17.
On yearly premises, crude steel production reported a significant rise of 11% Y-o-Y against 66.8 MnT in Jul’16.
China’s crude steel output climbed 5% in first seven months of CY17- In first seven months of CY17 (Jan-Jul’17) nation’s crude steel output increased by 5% to 490.4 MnT as compared to 468.5 MnT in similar time frame of previous year.
Chinese steel prices increased further amid gains in domestic market- Bullish sentiments backed by strong demand resulted in further hike in prices. Domestic prices have shown the constant hike and reached to the levels of RMB 3,850/MT (including VAT and other taxes) by the end of Jul’17, up 10% since beginning of last month. Chinese HRC export offers jumped 13% M-o-M in Aug’17.
On similar lines, China’s rebar and wired rod prices also increased both in domestic as well as global market.
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