China’s crude steel production in April reached a record volume of 97.85mn mt, up by 4.1pc from March, according to National Bureau of Statistics (NBS) in spite of government’s decision to limit yearly production to curb pollution and rising costs.
Healthy profits, increase in demand, and global price rise are reasons encouraging mills to boost production. Output of the top steel producing country in the world has been on the rise since two months, despite Beijing taking an oath to keep its annual output below the 2020-mark of 1.065bn mt.
China produced 374.56mn mt of crude steel in Jan-April period, up by 15.8pc from prior-year period, reported NBS. China’s pig iron production in April was 75.97mn mt, up by 3.8 y-o-y while in the Jan-Apr period, it stood at 306.64mn mt.
Domestic steel production went up by 12.5pc to 121.28mn mt in April and up by 20.1pc to. 45.253mn mt in Jan-Apr, compared to prior-year periods.