Steel production in China in July exceeded 93 million tons

China’s steel sector recorded a record high output in July 2020 due to soaring domestic demand from a host of infrastructure projects as the country introduced massive stimulus measures to help the economy recover from the COVID-19 outbreak. China’s crude steel production rose by about 9.1 percent from last year, reaching 93.36 million tons in July, with a daily output of 3.01 million tons, according to the China Iron and Steel Association. However, the growing supply failed to meet the growing demand. China’s steel material imports tripled to 2.61 million tonnes in July

comparing with the previous year. Pig iron production increased nearly 8.8 percent year on year to 78.18 million tonnes in July, while rolled steel production rose about 9.9 percent from the same period last year. year up to 116.89 million tons

CISA said that “as macroeconomic policies that support growth consolidate the momentum of the economic recovery, steel demand in the processing industry is expected to continue to grow.”

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