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China Seen Churning Out Most Steel Ever After Price Surge: Chart

China Steel Plans to Buy Iron, Coal Mines to Cut Dependency
Photographer: Maurice Tsai/Bloomberg

China, maker of half the world’s steel, probably boosted production to a record in April as mills fired up furnaces and domestic prices surged to 19-month highs, according to Sanford C. Bernstein & Co. Average daily output may have eclipsed the previous high of about 2.31 million metric tons in June 2014, said Paul Gait, a senior analyst in London. Producers ramped up supply as demand rebounded and prices jumped as much as 69 percent from their November low, generating the best margins since 2009.