According to the National Bureau of Statistics, investment in China’s iron and steel smelting/processing sector increased by 6.7% y-o-y during the January-August period.

The growth, though 3.4% higher than that for the Jan-July period, did not stem from actual spending in the eight months, but from the low base a year ago.

August reported a monthly investment worth RMB30.24bn ($4.4bn), up 31.4% over the same month of the previous year, but the volume was 5.3% lower than that in July.

Total input in the smelting/processing sector amounted to RMB202.71bn ($29.6bn) from Jan-Aug, up 6.7% y-o-y, still lagging far behind the 33% growth in the country’s fixed asset investment in the urban areas during the eight months.

Source: China Metals e-mail infochn@public.bta.net.cn