In the January-March period this year, China’s apparent consumption volume of crude steel amounted to 235 million mt, down 9.5 percent year on year, according to the China Iron and Steel Association (CISA). In the first three months of the year, the steel consumption from major industries saw a year-on-year decline of five percent, with a seven percent decline in the construction industry and a two percent drop in the manufacturing industry.
In the first quarter, China’s crude steel output reached 243.38 million mt, down 10.5 percent year on year, with the average daily output amounting to 2.7042 million mt, higher than the average daily output recorded in the fourth quarter last year, despite the year-on-year decline.