China's steel production increased from January to May 2023

Last May, China's total production of pig iron reached 77.00 million tonnes, crude steel 90.12 million tonnes, and finished steel products 118.47 million tonnes, down by 4.8%, down by 7.3%, down by 1.3%, year on year, while down by 1.08%, and by 2.72% and by 1.23% compared to April, respectively, the National Bureau of Statistics announced on June 15. From January to May this year, China's output of pig iron reached 374.74 million tonnes, crude steel 444.63 million tonnes and finished steel products 557.06 million tonnes, up 3.2%, 1.6% and 3.2% year-on-year, respectively. Average steel prices in China indicated a downward trend until late May, but then rebounded amid production cuts in June.