The China Iron and Steel Association (CISA) has estimated that China’s crude steel and finished steel outputs may reach 98.08 million mt and 122.69 million mt in May, up 6.3 percent and 7.1 percent year on year, while Chinese pig iron output will likely amount to 77.27 million mt, down 0.1 percent year on year.
In April this year, China had produced 97.9 million mt of crude steel, according to worldsteel, which means that the output has indicated a gradual increase month on month.
As of mid-May this year, import iron ore prices hit a peak level for the month of over $230/mt, reflectıng stronger steel demand and the overall uptrend in the steel market, while iron ore prices fell below $200/mt later in the month.