China’s crude steel output down 0.76% in early December
China’s crude steel output for the first 10 days of December fell 0.76% from late November, according to estimates by the China Iron & Steel Assn (Cisa).
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Daily crude steel output stood at 1.945 million tonnes in early December, compared with 1.96 million tonnes in the last 10 days of November.
Cisa members, including state-owned and large steel mills, contributed a daily volume of 1.66 million tonnes, up 0.98% over the same period.
“It seems that steel mills are still keeping their production rates high, though faster-growing raw material prices are already squeezing their profitability,” a trader in Shanghai said.
“Steel mills in Tangshan started to make losses in early December,” he added.