China produces 55.51 million mt more iron, steel in Jan-Aug to meet domestic demand: CISA

SHANGHAI, Oct 8 (SMM) – Strong domestic demand bolstered China’s production of iron and steel so far this year, and the support on output is expected to sustain, said China Iron and Steel Association (CISA) executive vice-chairman He Wenbo on Monday October 7. 

The first eight months of this year saw an addition of some 55.51 million mt in iron and steel output, mostly consumed domestically as net exports shrank 952,000 mt from a year ago, according to data from CISA. Around two-thirds of the output growth went to the construction field. 

CISA data also showed that China produced some 665 million mt of crude steel in January-August, up 9.1% from the same period last year. Production across CISA member mills rose 5.91% while that across non-member mills expanded 19.38% year on year. 

The average China Steel Price Index (CSPI) fell 5.33% on a yearly basis and stood at 108.89 in January-August.