BEIJING – China’s crude steel output in March climbed 4.6% from the prior year, incentivised by higher margins and robust exports.
The world’s largest steel producer manufactured 92.84 million metric tons of crude steel last month, data from the National Bureau of Statistics (NBS) showed on Wednesday.
That suggested an average daily output of about 2.99 million tons, versus 2.82 million tons over January-February and 2.85 million tons in March 2024, according to Reuters calculations based on the data.
Chinese steelmakers had been struggling to generate profit due to a supply glut and dwindling demand amid a sputtering post-COVID economic recovery in the past two years. But they scaled up production last month as margins widened.
Around 53% of steelmakers were operating at a profit in March, compared to 25% in March 2024, data from consultancy Mysteel showed.
Resilient demand from the manufacturing sector, coupled with strong exports, has offset some of the economic fallout from China’s protracted property market woes.
China’s manufacturing activity expanded at a faster pace in a year in March.
In the first quarter of 2025, China’s total crude steel output rose 0.6% year-on-year to 259.33 million tons.
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