China steel output continues to rise, prices fall

BEIJING - China's steel output continues to rise and prices of steel products have kept falling, underlining difficulties to ease overcapacity in the sector, according to data from the National Development and Reform Commission (NDRC).

Crude steel production gained 2.7 percent year on year to reach 271.86 million tons in the first four months of the year, the NDRC said in an online report.

During the January-April period, the steel price index came in at 95.97, down 9.78 percentage points from the same period last year, according to the NDRC.

Notably, exports jumped 29 percent year on year to 25.87 million tons as producers cut prices to boost trade in the industry that is still reeling from overcapacity.

The export prices went down 8.1 percent year on year to $795 per ton, the lowest level since 2011.

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