China Steel Products Output Keeps Monthly 80 Million Tonnes

Chinese output of steel products increased by 0.7% to 81.67 million tonnes in May from April, which kept more than 80 million tonnes for 3 months in a row, according to Chinese government. The volume increased for the first time in 2 months and hit second monthly high after March 2012. The daily output decreased by 2.5% to 2.64 million tonnes from April. Chinese makers apparently try to secure the volume under severe competition with slow demand despite of their loss making operation.

The output increased by 6.3% in May from a year earlier, which increased for 40 months in a row. The output increased by 6.3% to 384.01 million tonnes in January-May from same period of 2011. The makers try to reduce operating cost and increase the sales while many of them lose money.