Record Chinese Steel Production in March
Economy, Electricity, Steel
China’s crude steel output rose by 1.8% year-on-year in March to a record 72.0 Mt, the thirteenth consecutive month production has increased on an annual basis, according to the country’s National Bureau of Statistics. At 201.1 Mt steel output in 1q17 was up by 4.6% on the same period last year, which compares with a contraction of -3.2% in 1q16.
Record steel output comes alongside further positive data on the Chinese economy in March. According to the National Energy Administration, power consumption increased by 7.9% year-on-year to 513.9 billion kWh while, at 7.6%, annual industrial production growth rose at its fastest rate since December 2014, the National Bureau of Statistics reports.