China's Crude Steel production hits a record 61.58 Mmt in March: NBS

BEIJING (Scrap Monster): Chinese crude steel production increased by 10% month-on-month to a record 61.58 million metric tons (Mt) in March and up by 3.9% year-on-year, as per latest data released by the National Bureau of Statistics of China.

According to the data, record production in March this year, with mills responding to increasing prices as construction recovered from a winter lull, although analysts warned the jump in output would pressure the steel market as demand momentum slows.

The country's daily crude steel production was at 1.986 Mmt, hitting the highest since last June, NBS added.

China now produces about half of world’s total steel production and the output increases significantly to meet seasonal demand rise.