China’s steel output falls – ING

FXStreet Insights Team FXStreet

The National Bureau of Statistics (NBS) numbers released this morning show that China’s primary aluminium production fell marginally by 0.5% YoY to 3.8mt in August, ING's commodity experts Ewa Manthey and Warren Patterson note.

China announces plans to cut steel production

"However, cumulative production rose 2.2% YoY to 30.1mt over the first eight months of the year, due to new project additions in the country and a high-capacity utilisation rate."

"In other metals, monthly crude steel production fell 0.7% YoY for a fourth straight month to 77.4mt last month, as mills have been reducing output since May to improve margins. On a year-to-date basis, crude steel production totalled 671.8mt for the first eight months, down 2.8% YoY."

"At the end of last month, China announced plans to cut steel production and curb new capacity between 2025 and 2026. The country would achieve annual steel output cuts by forcing the closure of outdated and inefficient furnaces and supporting the development of advanced enterprises."

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