China’s crude steel output drops in H1
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Update time : 2022-07-25 17:48:29
In the first half of this year, the crude steel output of China’s enterprise above designated size was about 16.9 million tons, decreasing by 9% year on year.
At the same time, China’s stainless steel imports were 1.69 million tons, increasing by 19.6% year on year. The exports amounted to 2.42 million tons, growing by 12.4% compared to the same period of last year.
During the period, China’s apparent stainless steel consumption reached 14.63 million tons, a year-on-year decrease of 9.7%. The reductions might be because the Covid-19 epidemic in China impacted steel demand, interrupted shipment, and the limit of steel mill’s operation.
The epidemic in China has been controlled since the end of May, and most companies in Shanghai resumed work. However, the profit of steel production is low, and many steel mills cut production and put their equipment under examination. As a result, steel production of steel in China has declined since the second quarter.
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