The capacity utilization rate of the ferrous metal smelting, rolling and processing industry in China was at 78.5 percent in the January-June period of the current year, remaining stable year on year, according to China’s National Bureau of Statistics (NBS).
Total industrial capacity utilization in China in the April-June period was at 79.7 percent, up 0.7 percentage points compared to the same period last year.
Though steel production in China posted an unexpected reduction in the first quarter of this year, in the second quarter it was at a relatively high level and, as a result, it affected steel prices as domestic demand was insufficient. In June, crude steel production in China increased by 0.2 percent compared to June 2023 to 91.61 million mt, though it was down 1.3 percent from May this year.