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China's Giant Steel Industry Just Churned Out Record Supply

  • Steel production rises in March, while quarterly figure drops
  • `This is a significant increase,' says CRU Group's Bai
Updated on

The world’s biggest steel producer pushed output to a record in March as mills in China fired up plants to take advantage of a price surge since the start of the year that’s rescued profit margins.

Output rose 2.9 percent to 70.65 million metric tons from a year earlier, the National Bureau of Statistics said on Friday. That’s the highest ever, according to data from state-owned researcher Beijing Antaike Information Development Co. Still, for the first quarter, supply fell 3.2 percent to 192 million tons.