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China's steel output hit a record high

China's steel output hit a record high

Goldman Sachs Group data shows that due to strong and high profit margins, Chinese steelmakers are improving the ratio of steelmaking raw materials to further increase production. In June of this year, China's daily steel output reached a record high, driving production in the first Half of the year to a record 451 million tons, accounting for more than half of the world's total output. According to Goldman Sachs, China's steel production capacity has dropped by about 200 million tons to around 800 million tons due to the state's order to shut Down and some equipment idle for a long time after the global steel market collapse in 2015.
Source: Network

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