SHANGHAI, Sep 28 (SMM) – China's crude steel production in August rose at a slower rate on a yearly basis, showed data on the website of National Development and Reform Commission (NDRC) on Friday September 28.
Compared with August 2017, last month's year-on-year growth rate of the production fell 6 percentage points, to stand at 2.7%, NDRC data showed. This brought China’s crude steel output to 80.33 million mt in August.
Last month, production of steel products increased 6.4% year on year, up 5.9 percentage points from August 2017.
From January to August, China produced 617.4 million mt of crude steel, up 5.8% from a year ago, with growth rate 0.2 percentage point higher on the year; output of steel products also grew 7.1% to reach 725.27 million mt, with growth rate 5.9 percentage points higher on the year.
Domestic steel price index averaged 120.55 in August, up 4.44 from July and up 7.78 from last year, showed NDRC data.
Price of 6.5mm wire rods rose 8% on the year to 4,473 yuan/mt last month, 20mm steel plate increased 13% to 4,477 yuan/mt, and 1.0mm cold-rolled coil grew 3.8% to 4,863 yuan/mt.