China records record daily average steel production for third straight month

China records record daily average steel production for third straight month

By Muyu Xu and Josephine MasonPAKIM (Reuters) - Chinese steel mills produced record quantities of steel in June, while producers rushed to profit from high margins despite ...

By Muyu Xu and Josephine MasonBEIJING (Reuters) - Chinese steel mills produced record quantities of steel in June, while producers rushed to profit from high margins despite intensifying trade dispute between Beijing and Washington.China, which accounts for half of the world's capacity, produced 80.2 million tonnes of steel last month, according to data from China's National Bureau of Statistics.This is slightly less than the 81.6 million tons produced by the United States in 2017, according to data from the World Steel Association.June production was below the record of 81.13 million tonnes in May, but June is one day short, setting a new daily average production record for the third consecutive month of 2.67 million tonnes, according to Reuters"Steelmakers were striving to reap as much profit as possible despite environmental controls," said Richard Lu, an analyst at CRU in Beijing.The data could further ignite trade disputes between the US and China.The Uni...


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