China’s daily crude steel output further decreases in October

Posted on 23 November 2021

China’s average daily crude steel output in October 2021 hit a record low since 2018 amid the country’s bid to cut carbon emissions and gear up green transformation of the steel industry, according to the Ministry of Industry and Information Technology (MIIT).

Last month, China’s crude steel output dropped 23.3 percent year on year to 71.58 million tonnes, reporting an average daily output of around 2.31 million tonnes, 6.1 percent lower month on month, MIIT data showed.

In the first 10 months of the year, the country produced 877 million tonnes of crude steel, down 0.7 percent over one year earlier.

China’s steel prices saw sharp fall recently affected by factors including the price decline of fuel. Data from the China Iron and Steel Association showed steel prices have fallen to the level of early March this year.

In 2020, China’s crude steel output rose 5.2 percent year on year to exceed 1.05 billion tonnes. As part of the green shift by its energy-consuming steel industry, the country has vowed to reduce the output in 2021 from a year earlier.

Source : Xinhua