China’s crude steel production in January and February rose by 12.9pc from the prior-year period to 174.99mn mt, according to the National Bureau of Statistics (NBS) data. Production was aided by robust demand in the infrastructure and real estate segments.
In a statement, NBS also revealed that China’s growth of industrial production accelerated in the first two months of the year. The total value addition in industrial production grew by 35.1pc from Jan-Feb 2020 when the global COVID-19 pandemic had begun, and by 16.9pc from the first two months of 2019.
Growth of output in metal-consuming products including new energy vehicles, trucks, industrial robots, excavators, and shoveling machinery, was over 100pc from a year ago.
In the coming days, however, the output could dip as Tangshan, a major steel producing area in China has pledged to curb emissions by 50pc. The region has been working to reduce steel production capacity to achieve pollution control.