CHINA May 17 2016 12:35 PM
SHANGHAI (Scrap Register): Chinese crude steel output during the first four months of this year declined with mills defying a sector slowdown in order to take advantage of higher profit margins.
According to the National Bureau of Statistics data, crude steel output during the first four months of this year has now hit 261.42 million tons, down 2.3% from last year.
However, China produced 69.42 million tons of crude steel in April, up 0.5 percent on the year. The April volume is slightly lower than the record 70.65 million tons of crude steel produced in March.
In April, China’s pig Iron output was 58.42 million tons, down by 3% month-on-month and 3% year-on-year. China’s finished steel production was 96.68 million tons, down 2.6% month-on-month but up 0.3% year-on-year.