According to the PRC National Bureau of Statistics the steel production volume in the country reached 90.73 million tons in June 2022. Average daily production in June decreased by 3.0% compared to May and decreased to 3.024 million tons.
According to Reuters, factors such as very hot weather, heavy rains and flooding in the south of the country contributed to the reduction in smelting volume in the early summer. In addition, some companies reduced production due to unfavorable market conditions.
Chinese companies produced a total of 526.8 million tons of steel in the first half of the year.
Although the data for the first ten days of July show a further decline in steel production in China, Norwegian company Rystad Energy is quite optimistic about the prospects for the country's steel industry in the second half of the year. According to his forecast, Chinese companies will produce 538.4 million tons of steel in July-December.
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