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China April steel output hits record, second month to push peak higher - stats bureau

Reuters  |  BEIJING 

BEIJING (Reuters) - China produced a record volume of steel in April, breaking the previous highest peak set in March, data showed, stoking worries about a growing glut of metal even as the government said most of this year's targeted capacity cuts have already been met. Chinese steelmakers churned out a highest-ever 72.78 million tonnes in April, up 4.9 percent, the National Statistics Bureau (NBS) data showed on Monday, surpassing March's monthly record of 72 million tonnes as mills in the world's top producer rushed to profit from rising prices even as demand remains flat. In a briefing ...

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First Published: Mon, May 15 2017. 11:18 IST
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