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Chinese Crude Steel Output in 2019 Misses One Billion Tonne Mark by 3.6 Million Tonnes

Steel News - Published on Fri, 17 Jan 2020

Image Source: businessinsider.com
National Bureau of Statistics data showed that China's crude steel output in December 2019 was 84.27 million tonnes, up by 11.6% a YoY percent to take total crude steel production in 2019 was 996.34 million tonnes, up 8.3% YoY. China's finished steel output in December was 104.33 million tonnes, up 11.3% YoY, while steel production for the whole year was 1.20477 billion tonnes, up 9.8% from a year earlier. China's pig iron production in December was 67.06 million tonnes, up 6.0 per cent from a year earlier, while pig iron production for the whole year was 809.37 tonnes, up 5.3 per cent from a year earlier.

Steel demand in China stayed firm in 2019 despite the world’s second-largest economy coming under pressure from slowing domestic growth and a bitter trade war with the United States. The property market was more resilient than expected, and a push on infrastructure spending also fueled demand for steel as a vital building material.

The China Iron and Steel Association said last week it expects further growth this year, forecasting Chinese steel demand of about 890 million tonnes for 2020, up 2% from 2019. It had said the pace of growth would slow due to less demand from the automobile and shipping sectors, while new property construction is also expected to slow.

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Posted By : Rabi Wangkhem on Fri, 17 Jan 2020
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