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China’s steel output hits new record high in May

Argusmedia - China's crude steel output hit a new record high in May as construction and manufacturing demand ramped up after Covid-19 lockdowns ended.

Crude steel output totalled 92.27mn t last month, up by 8.5pc from April and higher by 4.2pc from a year earlier, according to national bureau of statistics data.

Crude steel output on a t/d basis increased by 5pc to 2.976mn t/d from 2.834mn t/d in April.

Total production in January-May rose by 1.9pc from a year earlier to 411.75mn t, an annualised pace of 1.002bn t. May output equated to 1.086bn t/yr on an annualised basis.

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