China’s crude steel output drops in Apr
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Update time : 2024-05-24 16:07:12
Recent data shows that China's crude steel production in April was 85.94 million tons, down 2% from the previous month and 8% year-on-year, marking a second consecutive monthly decline.
From January to April, total crude steel production was 343.67 million tons, a 3% decrease year-on-year. Steel exports totaled 9.224 million tons in the same month, down 6% from the previous month.
Domestically, the real estate sector's issues have affected steel demand. To address this, the government has converted unfinished buildings into affordable housing, loosened housing purchase restrictions, and promoted the "old for new" program.
As the real estate construction industry, which accounts for nearly 46% of China's steel demand, gradually recovers, it is expected to expand domestic demand. The timely reduction in crude steel production provides a strong stimulus for the revitalization of China's steel market.
