China’s crude steel production fell 3% over January-August, 2024 to 691 million tonnes (mnt) against 715 mnt seen in the same eight months in 2023, as per data NBS maintained with BigMint. This drop was the deepest so far compared to the rest of the year. It equalled January-April, 2024’s decline rate. The first two months of the year, however, had seen a 1.6% increase. From January to August 2024, Hebei, the largest producer, experienced a 6% year-on-year decline after initially flat growth. Jiangsu, the second-largest producer, saw a 4% drop in production. Additionally, Shangdong, Liaoning, and Shanxi experienced declines of 2%, 5%, and 10% respectively. Conversely, Guanxi and Guangdong showed increases of 16% and 8%, contributing a combined 58 million metric tons, up from 52 million metric tons.
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