According to the National Bureau of Statistics of the People's Republic of China, the steel production volume in the country in August 2021 amounted to 83.24 million tons, the lowest figure since March 2020. It has increased by less than 76% this year, up from 86.7 a year ago.
Compared to August 2020, smelting decreased by 13.2%. This is the worst recession in the history of Chinese metallurgy since at least the turn of the 21st century. Average daily production decreased by 4.1% compared to July and decreased to 2,685 million tons.
In just eight months, Chinese companies produced 733.02 million tons of steel, which is 5.3% or 48 million tons more than in the same period of the previous year. But in the future, the growth rate will slow down.
According to the forecasts of Chinese and foreign experts, steel production in the country will continue to decline in September. At the request of the government, new restrictions are being introduced in some provinces in the south and east of the country. According to the forecasts of S&P Global Platts, in Hebei, Jiangsu, Shandong, Liaoning and Yunnan provinces alone, smelting volume will decrease by 2.5 million tons in September for these reasons.
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