According to a new report issued by the China Iron and Steel Association (CISA), in March this year China produced 70.65 million mt of crude steel, up 2.9 percent year on year, ending the fourteen consecutive months of year-on-year decreases in the country’s crude steel output. Meanwhile, in March this year, China produced 60.20 million mt of pig iron and 99.23 million mt of finished steel, indicating respective rises of 2.2 percent and 3.3 percent year on year.
As indicated by the CISA, in the January-March period of the current year new commercial real estate sold in China increased by 33.1 percent on year-on-year basis, while production and sales of automotive vehicles in China rose by 6.2 percent and 6.0 percent year on year, respectively, resulting in increased demand for steel from downstream users. In addition, in March this year China’s finished steel exports amounted to 9.9784 millon mt, up 29.6 percent year on year.