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Chinese steel output headed for further contraction-The 18th China(Guangzhou ) Int’l Casting product Exhibition
9/8/2016 铸件展-铸件展会-casting expo |
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Global Times reported that an industry report said on Tuesday that China’s steel output fell in August and is likely to contract further during the rest of months this year. Experts noted the trend is a result of sagging market demand and the government''s pledge to cut overcapacity.
Daily production for the China Iron and Steel Association''s member companies amounted to 1.76 million tons in early and mid-August. Based on that number, it is estimated that the daily output of crude steel was 2.23 million tons nationwide in early and mid-August.
The figure represented a 3.3 percent increase from July, but it still lagged behind the average of 2.3 million tons of daily output in the second quarter of 2016. In the first seven months of 2016, national pig iron output dropped 2.25 million tons year-on-year to 467 million tons, said the report.
-The 18th China(Guangzhou ) Int’l Casting
product Exhibition
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