China’s crude steel output slowed in the first five months 2012 as demand dropped amid a cooling domestic economy.
Crude steel output increased by 2.2% year-on-year to 296.26Mt during the January- May period, down from 8.5% growth during the same period last year, data from the National Development and Research Commission showed.
According to the National Bureau of Statistics (NBS), the country’s crude steel output in the first five months of this year amounted to 295.23Mt, up nearly 51% from 195.61Mt for the same period 2007.
In May alone, crude steel output rose 2.5% from a year earlier, 5.3% lower than last year. Facilities overhaul in steel companies such as Hebei Iron and Steel Corp, Wuhan Iron and Steel (Group) Corp, and Jiangsu Shagang Group Co in late May led to a decline in the crude steel output.
Source: China Metals e-mail email@example.com