China’s crude steel production in first two months of year 2016, Jan and Feb is recorded at 112.07 MnT which is 5.7% down against the same period of previous year. The country’s finished steel production in these two months also fell by 2.1% Y-o-Y basis and is recorded at 168.28 MnT.
Given the overcapacity in country’s steel industry, production cut of 100 to 150 MnT is planned in next five years.
China’s steel exports surged by 4% to 8.11 MnT in Feb’16 but tumbled by 17% in Jan’16 against Jan’15. China’s total steel Exports in Jan-Feb’16 dropped by 1.3% to 17.85 MnT against corresponding period of previous year.
China’s Steel Data
| Production | Jan-Feb’16 | Jan-Feb’15 | % Change |
| Crude Steel | 121.07 | 128.39 | -5.7 |
| Finished Steel | 162.28 | 165.76 | -2.09 |
| Imports | |||
| Crude Steel | 2.06 | 2.21 | -6.78 |
| Steel Products | 1.86 | 2.03 | -8.37 |
| Exports | |||
| Steel Products | 178.5 | 180.8 | -1.72 |
| Crude Steel | 189.9 | 192.3 | -1.25 |
Quantity in MnT
Source: China’s Customs data
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