In the January-April period this year, China’s outputs of pig iron, crude steel and finished steel amounted to 297.63 million mt, 354.39 million mt and 446.36 million mt, increasing by 5.8 percent, 4.1 percent and 5.2 percent, respectively, year on year, as announced by China's National Bureau of Statistics (NBS) on May 16.
In April alone, China’s outputs of pig iron, crude steel and finished steel totaled 77.84 million mt, 92.64 million mt and 119.95 million mt, up 1.0 percent, down 1.5 percent and up 5.0 percent year on year, while down 0.29 percent, 3.23 percent and 5.74 percent month on month, respectively.
Chinese steelmakers reduced their production in April, aiming to bolster steel prices following continuous declines in the given month. Average steel prices indicated peak levels in March as demand for steel had been improving in the first three months of the year. However, supply of steel was excessive, while demand was not as good as market players had been expected. China said it will continue to control steel production during the remainder of the current year.
