China's National Bureau of Statistics announced that China produced 887.52 million tonnes of pig iron production in 2020 up by 4.3% YoY, 1.053 billion tonnes of crude steel in 2020 up by 5.2% YoY, & 1.325 billion tonnes of finished steel up by 7.7% YoY. China’s crude steel production has posted strong YoY gains since April 2020 and the pace picked up in the latter months, mainly as the domestic demand recovered substantially since the second quarter of 2020 with the resumption of economic and industrial activities and China’s investments in infrastructures as part of the economic rescue efforts.
China produced 74.22 million tonnes of pig iron in December 2020 up 5.4% YoY, 91.25 million tonnes of crude steel up 7.7% YoY & 120.34 million tonnes of finished steel up by 12.8% YoY.
As reported earlier, strong steel demand in China also lifted its 2020 steel imports to the highest level since 2005, even as the country maintained its status as the world's biggest steel exporter. China's finished steel imports rose by 64.4% YoY to 20.23 million tonnes in 2020, with exports falling by 16.5% YoY to 53.68 million tonnes