| China's Steel Output Hits Record High in March |
| Thursday,April 26,2007 Posted: 09:02 BJT(0102 GMT) MOFCOM |
According to the latest statistics released by the National Bureau of Statistics，China’s steel output continued its vigorous growth in March . Average daily output of crude steel, pig iron and rolled steel hit record high In March, China’s crude steel output totaled 40.157 mn tons, up by 20.4% year on year. Pig iron and rolled steel output reached 38.0669 mn and 46.9547 mn tons respectively, which rose up by 17.40% and 25.7% over the same month last year. Analysts believed that China’s vigorous growth of steel output in March was mainly attributed to the increasing domestic demand and adjustments on China’s export tariff rebates policy. According to the statistics released by China Customs on April 10, China’s steel export in March totaled 5.38 mn tons, which was only behind the 5.55 mn tons produced last December. Domestic demand for steel is expected to go up further after the decrease in export rebates rate since April 15. It is very likely that in April China’s steel daily output may break the March record and the annual output may exceed 500 mn tons. (Source: Chinese Version of MOFCOM) (Translated by Network Center of MOFCOM) |
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