China's Steel Production Sees Mixed Results in September
[tintuc]
China's steel industry experienced mixed results in September, with a decline in crude steel production but an increase in finished steel output.
According to the National Bureau of Statistics (NBS), China's crude steel production decreased by 1.09 percent month-over-month in September to 77.07 million metric tons (mt). However, the decline was slower compared to the 6.05 percent drop recorded in August.
Finished steel production, on the other hand, rose by 5.78 percent month-over-month in September, reaching 117.31 million mt. This increase can be attributed to improved demand from downstream users, driven by the Chinese government's stimulus policies announced in late September.
For the January-September period, China's total crude steel production declined by 3.6 percent year-on-year to 768.48 million mt. Finished steel production saw a slight decline of 0.1 percent to 1,044.48 million mt.
Looking ahead, the NBS forecasts an increase in steel production in October due to the traditional peak season for business and continued positive market sentiments fueled by China's stimulus policies. The real estate sector, a major consumer of steel, is expected to benefit from these policies, leading to increased demand for steel products.
[/tintuc]
China's steel industry experienced mixed results in September, with a decline in crude steel production but an increase in finished steel output.
According to the National Bureau of Statistics (NBS), China's crude steel production decreased by 1.09 percent month-over-month in September to 77.07 million metric tons (mt). However, the decline was slower compared to the 6.05 percent drop recorded in August.
Finished steel production, on the other hand, rose by 5.78 percent month-over-month in September, reaching 117.31 million mt. This increase can be attributed to improved demand from downstream users, driven by the Chinese government's stimulus policies announced in late September.
For the January-September period, China's total crude steel production declined by 3.6 percent year-on-year to 768.48 million mt. Finished steel production saw a slight decline of 0.1 percent to 1,044.48 million mt.
Looking ahead, the NBS forecasts an increase in steel production in October due to the traditional peak season for business and continued positive market sentiments fueled by China's stimulus policies. The real estate sector, a major consumer of steel, is expected to benefit from these policies, leading to increased demand for steel products.
[/tintuc]
