China’s steel industry remained under pressure in August 2026, despite stronger growth in overall industrial production. Industrial value added rose 5.2% y-o-y in August, accelerating from July, but crude steel output fell 3.7% y-o-y to 74.6 million tonnes (mnt). Finished steel production declined 5.5%, widening the contraction from July, as weak domestic demand and poor mill profitability continued to weigh on output.
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