The average daily steel product output of China's steel enterprises reached a record high of 3.86 million tonnes in June, up 4.5% from the previous month, showed the latest data from the National Bureau of Statistics (NBS).
The output of steel products rose 7.5% on the year and increased 1.32 million tonnes or 1.2% from May to 115.85 million tonnes. The output of steel products during January-June reached 605.84 million tonnes, an increase of 2.7% year on year.
China produced 91.58 million tonnes of crude steel in the month, up 4.5% from the previous year while down 0.69 million tonnes or 0.7% month on month. The average daily output was calculated at 3.05 million tonnes, increasing by 77,000 tonnes or 2.6% from that in May. The cumulative output of crude steel from January to June totaled 499.01 million tonnes, up 1.4% from a year ago.
The pig iron output hit 76.64 million tonnes in June, an increase of 4.1% year on year but falling by 680,000 tonnes or 0.9% from May. The average daily output was estimated to be 2.56 million tonnes, an increase of 61,000 tonnes or 2.4% from that in May. The output of pig iron hit 432.68 million in the first six months of 2020, an increase of 2.2% from the same period of a year ago.
The data refers to steel enterprises with annual main business income above 20 million yuan ($2.86 million).
China's average daily steel output in May hit the highest level in at least one year thanks to high demand in spite of the traditional off-peak season.
Steel production in June increased further amid optimistic outlook and good margins of steel making.
(Writing by Shengnan Liu Editing by Jessie Jia)
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