Chinese steel production hikes in Jan-Feb
According to the report, Chinese steel output soared during January and February. It was a total of 150 million tons roughly, up by 9.2% compared with same period of previous year.
The steel production increased came after the profit margin of steel manufactures going up, especially rebar hiked by higher than 20% from December. Another reason was Chinese authorities allowed mills to take different measures base on regional emission levels.
The rebar prices hiked by 10% in the first two months of 2019 and hit the highest point since late August on the date of February 11th.
However, Chinese steel mills in 39 smog-prone cities in North China would be asked to cut production stringently due to smog increasing seriously in February.
