News
China's crude steel output hits record high in August
(Xinhua)
Updated: 2009-09-10 13:18
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China's crude steel output will probably hit another record high of around 51.65 million tons for August, statistics from the China Iron and Steel Association (CISA) show.
The CISA estimated the August daily output at 1.67 million tons.
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CISA data shows 71 of China's large-scale steel producers yielded 39.43 million tons of crude steel in August, up 1.97 percent compared to July; and daily production was 1.27 million tons.
Rising steel prices and increased orders in July are considered the cause for the increase in output, said Zhang Ping, an analyst with Umetal.com.
But crude steel output is likely to decrease in September because of a fall in its price, and because of an increase in inventory in August, said Zhang.
