16 July 2019

China’s raw steel production seen up 2-3% next year, paper says

China’s raw steel production is likely to reach 782 million metric tons this year and may grow 2-3 percent next year to 800 million metric tons, China Business News reported Sunday, citing Zhang Changfu, deputy head of the China Iron and Steel Association. The average steel price this year is 340 yuan (US$56) per metric ton, 8.9 percent lower than that of last year, with sales margin of 0.48 percent or 28 yuan per metric ton, the report said. The industry is struggling amid the high cost of iron ore and low prices of steel products, Zhang was quoted as saying.

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