China’s daily crude steel output down 3% in late August

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.

editorial@metalbulletinasia.com