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在线翻译:
szdaily -> Business_Markets -> 
Steel output surges despite smog campaign
    2018-06-15  08:53    Shenzhen Daily

STEEL output in China surged to a record in May as mills ramped up production to chase fat profit margins, with a strong outlook for demand likely to keep mills running at nearly full capacity for the rest of the year.

The increased output comes despite China’s efforts to limit production in key areas as part of its anti-pollution campaign and highlights the government’s challenge in tackling overcapacity in the world’s top steel producer.

China produced 81.13 million tons of crude steel last month, up 5.8 percent from a month ago and 8.9 percent year on year, according to data from the National Bureau of Statistics. Year-to-date output rose 5.4 percent to 369.86 million tons.

Daily average output climbed 2.4 percent to 2.62 million tons in May from April, according to the official data.

“Steel mills have been running full-load and adding scrap steel to increase output in order to cash in on strong margins,” said Zhuo Guiqiu, senior analyst at Jinrui Futures.

Given firm demand and smog-battling production curbs in areas including the key steelmaking hubs of Hebei and Jiangsu provinces, analysts say mills can earn up to 900 yuan (US$141) by producing a ton of steel at present, not far from more than 1,000 yuan late last year.

The utilization rate at steel firms across the country was above 71 percent from late May, a level last seen before winter production curbs which kicked in in October and lasted through March. (SD-Agencies)

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