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Monthly High for Chinese Steel Output

Economy, Steel

From a record 73.2 Mt in June, Chinese crude steel production climbed to a new monthly high of 74.0 Mt in July, up by 10.3% year-on-year, according to the country’s National Bureau of Statistics. At 491.6 Mt, steel output in the first seven months of the year was up by 5.1% on the same period in 2016. However, annual industrial production growth in July was the slowest since February at 6.4%, down from 7.6% in June, while fixed asset investment and retail sales growth also softened.