According to National Bureau of Statistics, China’s crude steel production reached 70.75 million tons in March 2016, up 2.9% on a yearly basis. The country produced 60.20 million tons of pig iron during the period, up 2.2 % year on year; finished steel production in March was 99.23 million tons, up 3.3% year on year. The daily production of crude steel and finished steel was 2.2823 million tons and 3.201 million tons respectively, with an increase of 13.1 percent and 18.3 percent from the daily output level in January and February 2016; daily pig iron output came to 1.9319 million tons, up 10.6 percent from January and February. Calculated by import and export, crude steel supply and steel products supply in the month totaled 61.5 million tons and 90.52 million tons, down by 0.6 percent and 1.1 percent year on year. The high output in March hint the robust demand both at home and abroad. Currently, steel inventories remain low, which will continue to back up steel price hike.
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