Base and precious metals update: Cliff Green

China’s crude steel output in late April was 20.12mn mt, the output of pig iron was 18.37mn mt and steel output was 20.42mn mt, according to China Iron and Steel Association.In late April steel stock of iron and steel enterprises was 14.72mn mt, down by 15.45pc from 10 days ago, but up by 54.51pc from beginning of the year.Late April productionTotalDaily Output% Changedaily outputY-o-Y% Changedaily outputM-o-MCrude Steel20.12mn mt2.01mn mt0.453.1Pig Iron18.37mn mt1.83mn mt3.563.16Steel20.42mn mt2.04mn mt1.358.77