Daily crude steel output of member steelmakers of the CISA, namely the 76 large and medium-sized steel mills in the country, reached 1.70Mt in early February, up 6.1% from the January 21-31 period.

Industry insiders say rising raw materials costs, orders and producer prices spurred steel mills to increase production. As some steel mills still maintained normal production during the Lunar New Year holiday when demand for steels was low, this will add pressure on the already glut of steel on the market.

Source: China Metals e-mail [email protected]