According to Shan Shanghua, general secretary of the China Iron and Steel Association (CISA), in the month of July China's average daily crude steel production was 1.69 million mt, down 5.59 percent from the level of 1.79 million mt in June, though up 8.33 percent compared with the average of 1.56 million mt in the first half of 2010. Mr. Shan said China's average daily output of crude steel in the second half of this year is likely to decrease.
The CISA official also said that in H1 the steel producers surveyed by the CISA posted an aggregate profit of RMB 50.718 billion ($7.48 billion), up 21.22 times year on year, and a total sales revenue of RMB 1460.392 billion ($215 billion), increasing by 46.06 percent year on year.