Reuters quoted data from the China Iron and Steel Association said China mills produced 1.9499 million tonnes of crude steel a day during July 11-20 down by 0.26% compared with the previous 10 days
China steel output has remained at high levels despite monetary tightening and a decline in demand for flat products used in automobiles and household appliances with demand for construction steel still high as a result of a nationwide cheap housing program.
The average in the first 20 days of July stood at 1.953 million tonnes.
Production normally falls during the summer months as construction activities slow, but average daily output in the last 10 days of June reached a record of more than 2 million tonnes.
Despite complaints by CISA about overcapacity and narrow margins, daily output has remained at more than 1.9 million tonnes since late February compared with an average of around 1.7 million tonnes last year.
( Source: steelguru.com )