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Chinese steel output in Jan-Feb up 9.2% YoY

Add Time:2019-03-15 18:55:00 Clicks:
Reuters reported that China’s steel output rose in January and February, as mills ramped up production amid firm steel margins and easier environmental restrictions. National Bureau of Statistics data showed that total steel output for the two months reached 149.58 million tonnes, up 9.2% YoY. According to Reuters calculations based on official data, average daily steel output over the two months reached 2.54 million tonnes, up from 2.46 million tonnes in December and 2.32 million tonnes in the same months last year.

The production pick-up followed a rise in profit margins at steel mills over January and February, with earnings from making construction product rebar jumping more than 20% from December

Mills also took advantage of a change in winter anti-pollution restrictions after Beijing ditched blanket production cuts on heavy industry due to rising worries about slowing economic growth. Local authorities were instead allowed to adopt measures based on regional emission levels.

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