USEUROPEAFRICAASIA 中文双语Français
Home / Business

Steelmakers hit by glut in production, sinking prices

By Bloomberg | China Daily | Updated: 2015-08-13 08:16

The country's steelmakers reduced output last month, adding to signs of waning demand in the world's largest producer as companies grappled with overcapacity, sinking prices and slowing economic growth.

Crude-steel output fell 4.6 percent to 65.84 million metric tons from June, data from the National Bureau of Statistics showed on Wednesday.

Production in the first seven months was 476 million tons, 1.8 percent less than a year earlier. Demand for steel in Asia's largest economy is falling for the first time in a generation, spurring mills to ship record amounts of the alloy overseas as prices slump.

Steelmakers hit by glut in production, sinking prices

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US