Last Updated :
11 March 2010 at 12:40 IST
China crude steel output hits new record
BEIJING (Commodity Online) : China’s crude steel output hit a record 52.53 million tones in January, said country’s National Statistics Bureau (NSB).
NSB released its output data for January and February in March instead of monthly as usual, to de-emphasize distortions caused by the week-long Lunar New Year break.
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As a result, the bureau's headline numbers Thursday for crude steel output were the relatively high 50.36 million tones for February and 102.89 million tones for the first two months of the year.
Those figures indicate that China’s crude steel output in January broke the record 52.3 million tones set in August last year.
The new record underlined again the failures of Beijing's repeated and highly public campaign to contain overcapacity in the steelmaking industry.
Preliminary customs data Wednesday showed that China imported 49.4 million tones of iron ore in February, up 5.6 per cent from a year earlier and 5.9 per cent from the previous month.
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