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China March steel output climbs to highest on record

Reuters  |  BEIJING 

BEIJING (Reuters) - China's steel output rose 1.8 percent in March to a monthly record of 72 million tonnes, stoking worries of a glut that continues to grow even as Beijing tries to rein in excess capacity in the bloated sector and demand remains flat. March's monthly total easily beat the previous record of 70.65 million tonnes hit in March 2016, data from the National Bureau of Statistics showed on Monday. In the first quarter, production totalled 201.1 million tonnes, up 4.6 percent from the same period a year earlier, the data also showed.The growing production as Chinese mills bid to ...

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First Published: Mon, April 17 2017. 10:00 IST