China's daily crude steel output rose to record levels in June, according t...
BEIJING - China’s daily crude steel output rose to record levels in June, according to Reuters calculations, even as anti-pollution production curbs pushed whole-month production slightly lower, official data showed on Monday.
The world’s biggest steel producer churned out 87.53 million tonnes of crude steel last month, data from the National Bureau of Statistics showed. That was down from a record 89.09 million tonnes in May - the first monthly drop this year - as the government stepped up its drive to cut smog, but still well above 80.2 million tonnes in June 2018 as daily output grew.
The monthly drop for June came as the smog-prone northern province of Hebei, which accounts for a quarter of China’s total steel output, ordered local governments to bring forward capacity cuts and anti-pollution measures to meet annual air quality targets.Analysts expect the restrictions, if fully implemented, will have a bigger impact than curbs usually imposed in winter to restrict smog, and will trim blast furnace operations by around 40% in the region.
At blast furnaces in Tangshan, China’s top steelmaking city, those rates are expected to hover at around 61% in July and August, analysts estimate. That compares to an average of 75.6% in the city in the first half this year.
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