According to the National Bureau of Statistics, China's crude steel output fell further in November, for the sixth consecutive month, to 69.31 million tonnes down by 3.2 MoM and 22% YoY and 30% or 30 million tonnes as compared to peak of 99.45 million tonnes in May 2021 as production restrictions to combat pollution continued. In the first 11 months of the year, China made 946.36 million tonnes of steel, down 2.6% YoYThe official goal set for 2021 limits crude steel production at 1065 million tonnes, produced in 2020. But in the first half of 2021, Chinese steel mills churned out 12% more crude steel at 564 million tonnes and May output reached all-time high of 99.5 million tonnes. These numbers forced Chinese government to intensify crackdown forcing provincial and city governments to impose tougher curbs. As a result, Chinese crude steel production started coming down in last 5 months and is on track for China’s goal of maintaining the 2021 total at flat or lower than that of 1.065 billion tonnes in 2020.
According to the National Bureau of Statistics, China's crude steel output fell further in November, for the sixth consecutive month, to 69.31 million tonnes down by 3.2 MoM and 22% YoY and 30% or 30 million tonnes as compared to peak of 99.45 million tonnes in May 2021 as production restrictions to combat pollution continued. In the first 11 months of the year, China made 946.36 million tonnes of steel, down 2.6% YoYThe official goal set for 2021 limits crude steel production at 1065 million tonnes, produced in 2020. But in the first half of 2021, Chinese steel mills churned out 12% more crude steel at 564 million tonnes and May output reached all-time high of 99.5 million tonnes. These numbers forced Chinese government to intensify crackdown forcing provincial and city governments to impose tougher curbs. As a result, Chinese crude steel production started coming down in last 5 months and is on track for China’s goal of maintaining the 2021 total at flat or lower than that of 1.065 billion tonnes in 2020.
