In the January-March period this year, China’s apparent consumption volume of crude steel amounted to 235 million mt, down 9.5% year on year, according to the China Iron and Steel Association (CISA).
In the first three months of the year, the steel consumption from major industries saw a year-on-year decline of 5%, with 7% decline in the construction industry and 2% drop in the manufacturing industry.
In the first quarter, China’s crude steel output reached 243.38 million mt, down 10.5% year on year, with the average daily output amounting to 2.7042 million mt, higher than the average daily output recorded in the fourth quarter last year, despite the year-on-year decline.