China’s crude steel output fell further in late August as shutdowns for maintenance and overhauls by steelmakers took effect.
As forecast by Steel First, China’s national daily crude steel output dropped 3% to 1.8715 million tonnes in the last 10 days of August, according to China Iron and Steel Assn (Cisa) estimates.
The daily crude steel output for Cisa members, mostly state-owned and large steelmakers, also fell 3.73% to 1.5214 million tonnes, according to the association.
“Crude steel output in late August has dropped below the average of 1.8976 million tonnes so far this year,” a trader in Shanghai observed.
Cisa’s statistics showed that state-owned steelmakers trimming output, as many of them have been making losses since the last quarter of 2011.
Private-sector and smaller steel producers, which have lower costs, are largely accountable for China’s high crude steel output.