China Steel Output at Record After Rally Rescues Profits: Chart

The world’s biggest steel industry churned out more metal than any month on record in March. Output of crude steel rose 2.9 percent on the year to 70.65 million metric tons. Mills in China are ramping up output after a surprise price rally this year drove up profit margins on each ton of steel, according to an index created by Bloomberg Intelligence. Still, with demand falling for the first time in a generation, output is still expected to fall this year, according to the China Iron & Steel Association.