Chinese Steel Output
At 83.2 Mt, Chinese crude steel output declined by a sharp -13.2% year-on-year in August to reach the lowest monthly level since February, data from the National Bureau of Statistics showed.
However, despite this fall output in January-August was still up 5.3% year-on-year, bolstered by rises in the 1h21.
China Iron and Steel Association (CISA) data show production weakness persisted into September with output over 1-10 September down by 4.3% on the corresponding period in 2020 at 2.05 Mt. This was broadly in line with production in late August.
Meanwhile, China’s industrial output rose by 5.3% year-on-year in August, down from growth of 6.4% in July, according to the National Bureau of Statistics.