China’s crude steel output tipped to hit new highs

摘要

China is expected to hit new highs in crude steel output through the remainder of 2020 as blistering momentum is building on the back of strong signs of economic recovery in key sectors. Average daily production reached a new peak of 3.05 mt/d in June, but this record is tipped to be toppled before the year-end – possibly in August, and potentially more than once. Positive indicators have emerged from new housing starts, cement prices and the wider industrial sector, and steel makers are growing increasingly bullish on their near-term prospects, various market participants told IHS Markit.