Nation’s crude steel performance rose further to 74.59 MnT in Aug’17 surpassing the previous highest mark of Jul’17.
According to recent data released by National Bureau of Statistics, China’s crude steel output in Aug’17 reported highest ever output at 74.59 MnT higher by 9% Y-o-Y basis as compared to 68.57 MnT in Aug’16.
However on monthly premise,crude steel production reported a marginal rise of 0.7% against 74.02 MnT in Jul’17.
In the tenure of first eight months of CY17 (Jan-Aug17) nation’s crude steel output increased by 5.1% to 565 MnT as compared to 537.09 MnT in similar time frame of previous year.
Surge in crude steel output,strong domestic demand and rise in prices has resulted to huge profits for Chinese mills in domestic market.
In Aug’17,Chinese HRC export offers increased by 11 % M-o-M in Aug’17 to USD 530/MT,FoB China on monthly average basis. Similarly domestic HRC prices in China climbed 9% M-o-M in Aug’17.
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