China’s crude steel production rose in March to a 10-month high, driven by improved profit margins, but analysts expect production to remain flat or decline in April due to uncertainties about demand.
Data from the National Bureau of Statistics showed that the world’s largest steel producer produced 92.84 million tons of crude steel last month, its highest monthly level since May 2024.
According to Reuters, the March production volume, which was in line with analysts’ expectations, indicates an average daily output of about 2.99 million tons, compared to 2.82 million tons in January and February and 2.85 million tons in March 2024.
Data from consultancy MySteel showed that about 53% of steelmakers reported profits in March, compared to 25% a year earlier, as resilient demand from the manufacturing sector, along with strong exports, helped offset some of the economic fallout from the property market crisis.
In the first quarter of 2025, China’s total crude steel production rose 0.6% year-on-year to 259.33 million tons, but analysts noted concerns about the future pace of production, given uncertainties surrounding exports and domestic demand.
