According to industry data, in August, China recorded a record daily crude steel production as the country’s economic recovery strengthens.
According to the China Iron and Steel Industry Association (CISA), citing data from the National Bureau of Statistics, daily crude steel production in August was 3.06 million tons, a record production in history.
Pig iron and rolled steel production amounted to 2.53 million tonnes and 3.84 million tonnes per day, respectively.
From January to August, steel production rose 3.7% year-on-year to 688.89 million tonnes, while pig iron and rolled metal production rose 3.4% and 4.8% year-on-year to 589.4 million tons and 844.69 million tons. , Shown data from CISA.
Despite high steel consumption during the peak months of September and October, a rapid recovery in steel production and increased imports of rolled steel and other materials will put pressure on supply, according to the CISA report.
In this scenario, CISA stated that an increase in steel prices is unlikely.