Chinese output of hot metal, crude steel and finished steel all increased in August, China’s National Bureau of Statistics said on Monday. China produced 106.4mt of finished steel and 87.3mt of crude steel in August, up 9.8% and 9.3% respectively year-on-year. August output numbers were also higher on a month-on-month basis. Lower iron ore prices and expectations of demand recovering in September were cited as the major reasons for Chinese steelmakers’ higher production rates.
Source: Fastmarkets MB
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