According to the latest data issued by the China Iron and Steel Association (CISA), the average daily crude steel output in the whole of China in late February (Feb. 21-28) totaled 1.912 million mt, up 5.5 percent compared to the corresponding period of January. The CISA said that the increase in crude steel output was driven by the rise in profit margins, but warned that the domestic steel market could face a situation of oversupply.
The CISA also stated that China's revised average daily output of crude steel reached 1.823 million mt in February, compared to the average daily output of 1.703 million mt registered in January.