China Crude Steel Output to Touch 1.05 Billion Tonnes in 2020
According to latest data from National Bureau of Statistics, China's crude steel output totalled 87.66 million tonnes in November 2020, down by 4.9% MoM
According to latest data from National Bureau of Statistics, China's crude steel output totalled 87.66 million tonnes in November 2020, down by 4.9% MoM but up 8.0% YoY. China’s crude steel output in January-November 2020 rose by 5.5% YoY to 961.16 million tonnes. Unprecedented steel demand in China pushed steel mills to increase daily crude steel output to a record high of 3.09 million tonnes a day in September 2020, which started tapering in in October 2020 to 2.97 million tonnes a day and 2.92 million tonnes a day in November 2020 as with the onset of winters in North China resulted in output restrictions forcing many steel mills to undertake maintenance. However, as the steel realization is very strong, daily crude steel output in December 2020 is likely to remain above 2.9 million tonnes a day, meaning we could witness China producing record 1.05 billion tonnes of crude steel in 2020, up by about 5% YoY, despite crude steel production shrinking to 79.9 million tonnes in January, 74.77 million tonnes in February and 78.97 million tonnes in March, when COVID19 spread had slowed down activities.
China produced 72.01 million tonnes of pig iron in November 2020, down by 4.7% MoM to take pig iron production in January-November 2020 to 812.90 million tonnes, up 4.2% YoY
China also produced 117.34 million tonnes of finished steel in November 2020, down by 1.0% MoM to take finished steel production in January-November 2020 to 1202.03 million tonnes, up 7.0% YoY