China has significantly reduced its steel production

According to the PRC National Bureau of Statistics, steel production in July 2021 amounted to 86.79 million tons, which is 7.6% less than the previous month and 8.4% less than in July 2020. Average daily production decreased by 10.5% in comparison. 2.80 million tons by June.

Thus, the restrictive measures taken by the Chinese government at the beginning of the second half of the year yielded results. Average daily production in July was the lowest since March 2020.

In just seven months, nearly 650 million tons of steel were melted in China. This is still higher than the figure for the same period last year, but only 8.0%. It can be assumed that the difference will continue to decrease in the future.

In July, Chinese metallurgical mills melted 72.85 million tons of pig iron, lowering the daily average rate by 7.0 percent compared to June. The workload in July 2020 was 8.9%. For seven months, China received 534 million tons of pig iron, which is 2.3% more than in January-July last year.

Finished rolled product production, counted twice, decreased by 6.6 percent to 110 million tons in July compared to the same month of the previous year. Average daily production was 11% less than in June. The seven-month production volume is still 10.5% above the previous year and is at the level of 809 million tons.