According to the latest figures, China's average daily crude steel output reached 1.522 million mt in the mid-June period (June 11-20), the highest daily level so far this year, equivalent to an annual output of 556 million mt.
The continuous climb in steel prices is the main factor contributing to the rise in the crude steel production volume in China. Up to June 28, steel prices in China had been on the rise for nine consecutive weeks. Meanwhile, hot rolled and rebar prices in the Shanghai market have increased by more than 18 percent compared to early March levels. The recovery of demand is also a factor leading to the expansion of crude steel production in China.