Chinese Steel Output Falls in July
At 86.8 Mt, Chinese crude steel output declined by a steep -8.4% year-on-year in July, data from the National Bureau of Statistics reveal. If expressed in terms of average daily output, July would mark a 16-month low for Chinese steel production.
Despite the drop, output in the first seven months of year was still up 8.0% on the corresponding period in 2020 at 649.3 Mt.
China’s industrial output rose by 6.4% annually in July, down from a growth rate of 8.3% in June, according to the National Bureau of Statistics.