Chinese Crude Steel Output Remains Strong in October 2020
Andhra Pradesh based alloy steel manufacturer Arjas Steel has signed a definitive agreement to acquire 100% of Chandigarh based BSE listed Modern
restrictions and an easing demand outlook for winter, , but remained at a very high level. National Bureau of Statistics said that China produced 92.2 million tonnes of crude steel in October 2020, up 12.7% YoY but down slightly as compared with 92.56 million tonnes in September. Average daily output stood at 2.97 million tonnes in October 2020, dropping back from the daily record of 3.09 million tonnes in September 2020. For the first 10 months of the year, China churned out 873.93 million tonnes of the crude steel, up 5.5% from the same period in 2019, well on the way to a record tonnage above 1.050 billion tonnes in 2020.
October 2020 Production
Hot metal - 76.17 million tonnes, up 9.4% YoY
Finished steel - 118.48 million tonnes, up 14.2% YoY
Production at steel mills are typically disrupted by the country’s winter cuts, which mainly target the industrial sector in smog-prone northern cities from November to March, with plants failing to meet environmental requirements being forced to curb their output. But this year, the measures are not expected to have the same impact as most mills have completed environmental upgrades.