China Crude Steel Daily Output Hits New Record in June

China’s daily output of crude steel was 2.44 million tonnes in June, a new record high, and calculating on the data, the annualized output in theory is estimated to reach 890 million tonnes, far higher than market expectation. 

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Output is down slightly in July based on data available. Daily output of crude steel at members of China Iron & Steel Association (CISA) was 1.85 million tonnes during the first ten days of the month, down 17,000 tonnes or 0.91 per cent from the previous level, and the nation’s daily output is estimated at 2.34 million tonnes during the same period, down 13,400 tonnes or 0.57 per cent. 

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