China’s Crude Steel Production Falls by 4.6% in July

Chinese crude steel production in the month of July has fallen marginally by 4.6% to 65.84 MnT against 68.95 MnT in June’15.

Crude steel production in China has fallen in July by 4.6% to 65.84 MnT in contrast to 68.95 MnT in previous month. Production curtailment by Chinese steel mills amidst stringent environmental laws imposed by the government was the major factor of fall in production.

In addition, subdued demand caused by slowing Chinese economic growth has pushed steel prices down, forcing several mills to reduce output or ship more to overseas markets.