China’s crude steel output rises by 2.5% in January-July 2023

In July alone, China’s outputs of pig iron, crude steel and finished steel totaled 77.6 million mt, 90.8 million mt and 116.53 million mt, increasing by 10.2%, 11.5% and 14.5% year on year, while up 0.81%, down 0.34% and down 2.96%, respectively, month on month, as announced by China's National Bureau of Statistics (NBS) on August 15. In the January-July period this year, China’s outputs of pig iron, crude steel and finished steel amounted to 528.92 million mt, 626.51 million mt and 789 million mt, increasing by 3.5%, 2.5% and 5.4%, respectively, year on year. Average steel prices mostly fluctuated within a limited range in July, while starting to indicate a rising trend in late July amid the increasing trend seen in futures prices and firm support from raw material prices.