China Is Producing More Steel Than Ever
- Production of crude steel notched an all-time high in 1Q
- Investment in railways, subways, sewage will boost demand: BI
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China’s steel industry notched another production record in the first quarter, spurred by consumption in the infrastructure sector as government stimulus props up demand.
The maker of half the world’s steel churned out 231 million tons between January and March, up almost 10 percent from a year earlier and the highest for any first quarter on record. Production in March climbed 10 percent to 80.3 million tons, according to data from the statistics bureau.