National Bureau of statistics of China provided data for may. They concern the activities of the Chinese steel industry. So local companies were able to set a new record. And this is the second month in a row. The Chinese company produced 89.09 million tonnes of steel. This is the highest figure in the country’s history. Over the same period last year the figure was 9.8% less. In an average day smelted 2.87 million tons. This exceeds the previous record by 1.4%. The previous highest result was achieved in April of this year.
Chinese steelmakers worked hard from January to may this year. Production for the period amounted to 404,88 million tons of steel. Thus, it was possible to significantly exceed the figure for the same period last year. The difference was 10.2%. Enterprise actively engaged in the expansion of production in the current year. The market demand for steel products. The main users were companies in the construction sector. In this regard, the Steelworkers decided to step it up. Thus, they managed to fit a proposal under the growing demand. However, this is not the only reason for the increase in production volumes. It is known that environmental requirements have become somewhat easier. We are talking about restrictions on the production of steel and cast iron.
Iron ore rose significantly. Because of this decreased margin in the production of rebar. It was about $ 50 per ton. However, most Chinese manufacturers are still characterized by profitability. Because it makes no sense to cut production. The average power in the Chinese steel industry uploaded to 71,1%. Such information gives the company Mysteel.