China Churns Out Record Steel in May as Demand Picks Up
Finance Yahoo - China’s crude steel production shot up to a new record high in May on an uptick in demand from construction and manufacturing sectors as the country continues its gradual recovery from the fallout of the coronavirus pandemic.
Crude steel output from China — the world's biggest steel producer — went up 4.2% year over year to 92.27 million tons in May, according to China's National Bureau of Statistics (“NBS”). Production also surged 8.5% from April. For the first five months of 2020, output rose 1.9% year over year to 411.75 million tons, per NBS.