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China Closes in on Production Milestone

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[Abstract]:
Through the first five months of 2020, China’s steel production is on pace to cross the 1-billion-metric-ton threshold this year, reports commodities news and pricing service Argus Media.

6/15/2020 - Through the first five months of 2020, China’s steel production is on pace to cross the 1-billion-metric-ton threshold this year, reports commodities news and pricing service Argus Media.

Citing data from China’s national bureau of statistics, Argus said the country produced 411.75 million metric tons of crude steel between January and May, the equivalent of 1.002 billion metric tons on an annualized basis.

May production alone stood at a record 92.27 million metric tons, Argus said.

China in 2019 produced 996.3 million metric tons of crude steel, according to the World Steel Association.