China March Crude Steel Production Falls 6.4% YoY Amid COVID Outbreak

China March Crude Steel Production Falls 6.4% YoY Amid COVID Outbreak

March crude steel output at 88.3m tonnes vs. 94.02m tonnes a year ago

Average daily production of 2.85 million tons, 6% more than in January-February

Steel production in the first quarter fell by 10.5% year-on-year

China’s crude steel production fell more than 6% in March from the same month a year earlier, data from the statistical bureau showed on Monday, as production in the steel mills was affected by the COVID-19 outbreaks and environmental restrictions.

The world’s top steelmaker made 88.3 million tonnes of the metal last month, up from 94.02 million tonnes in March 2021, the Office for National Statistics (NBS) said.

Average daily production in March was 2.85 million tonnes, according to a Reuters calculation based on NBS data. That was down from 3.03m tonnes in the same month last year, but up from 2.68m tonnes from January to February.

In the first quarter, China produced 243.38m tonnes of steel, down 10.5% from 271.04m tonnes in the same period a year earlier, data from the statistics bureau showed.

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