China Crude Steel Output Up by 2% in Aug'19

As per the latest data released by the National Bureau of Statistics (NBS), world steel giant Chinese crude steel output up by 2% in Aug'19 at 87.25 MnT which was 85.22 MnT in Jul'19.

Chinese major steel mills had ramp-up their production before the announced stringent production curbs later in Sep'19. This can be attributed to an uptick in the nation's crude steel production in Aug'19.

Meanwhile, Chinese steel mills are also trying to increase production owing to recovery in domestic steel prices. Also, restocking activities before the National Day holiday will likely to result slight upside in the nation's crude steel output in upcoming months.

However, with the announcement of anti-pollution curbs at the beginning of Sep may help to curb excess capacities and bolster prices both in domestic and global markets.

China's crude steel output on yearly premise rose by 9% in Aug'19 as against 80.33 MnT in the same month of CY'18.

During the first eight months (Jan-Aug) CY'19, the nation's crude steel output stood at 664.03 MnT declined by 8% over 612.36 MnT in a similar time frame of CY'18.