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China has a record steel output

7 August 2019

National Bureau of statistics of China has summed up the results for June. It is reported that Chinese iron and steel enterprises once again showing record results. So last month was produced 87.53 million tons. In comparison with the figure for the same period last year recorded growth. It was 9%. In June last year the result was decent. However, this year Chinese metallurg managed to reach new heights. The absolute record for average daily smelting. So it reached a volume of 2,918 million tons. The previous maximum was recorded in may of this year. The difference is 1.5%.

In the first half of the year received an impressive result. During this period, Chinese companies made 492,2 million tons. This allows us to make good predictions for the whole year. The final result can be up to 1 billion tons of steel products. Moreover, it is possible that it will even exceed this mark. In annual terms in June, the index reached 1,065 million tons. Because it is possible that Chinese iron and steel enterprises will be able to raise the bar.

Despite this, the forecasts for July are different. Experts note that this month the volume of production will decrease. The reason for this are new restrictions imposed late last month. Restrictions affected two Chinese steel center — Tangshan and Handan. Under them were the production of sinter. Restrictions also touched on iron smelting. Another negative factor is the rainy season in China. It is expected to last until autumn. Because of this reduced demand for steel products. Its main consumers are enterprises of the construction industry. But the rainy season does not allow them much «room to roam».

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