On December 7, the China Metallurgical Industry Planning and Research Institute (MPI) stated that China’s crude steel output will amount to 806 million mt in the current year, down 2.1 percent year on year, while it will likely decline to 781 million mt in 2016.
Meanwhile, Chinese demand for finished steel and iron ore is foreseen to decrease to 648 million mt and 1.073 billion mt in 2016, respectively.