Chinese Steel Production at All-Time High in April
Chinese crude steel output climbed to a new all-time high of 72.8 Mt in April, up from 72.0 Mt in March (the previous record) and registering an increase of 4.9% year-on-year, according to data from the country’s National Bureau of Statistics reported by Reuters. At 273.9 Mt, steel production in January-April was up by 4.6% on the same period last year.
Meanwhile, industrial production growth in China slowed to 6.5% year-on-year in April, down from 7.6% in March. Fixed asset investment and retail sales growth also experienced a modest deceleration.