Steel Prices: China’s Steel Output Reaches Another Record

 
According to the country’s statistics bureau, crude steel output climbed to 74.59 million metric tons in August, surpassing the previous peak of 74.02 million reached in July. The August measure is an all-time high for the month, but it is still below June’s production.
 
China’s steel demand has rallied this year, while it was previously expected that it would slow down later in the year as the country’s government-backed stimulus programs came to a close, China’s economic growth has continued, sparking increased demand for steel.