China Pig Iron Output to Fall Further in December

SHANGHAI, Dec. 30 (SMM) - China’s pig iron output may continue to fall in December as steel plants slash output against losses, SMM says.

China’s elimination in steel capacity has been accelerating. Some SOEs lay off workers or reduce wages.

Domestic pig iron output in November was 53.67 million tonnes, down 4.7% from October, but up 0.8% YoY, according to NBS. Average daily output was 1.79 million tonnes, down 1.5% MoM, to hit its lowest over the last year. Year-over-year decline is not very significant, though. 

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