China’s steel output surged to a new high in February amid signs of pickup in the real-estate market, defying efforts by Chinese officials to curb capacity and streamline the loss-plagued industry.
Crude steel output rose 9.8% in February to a record 2.21 million metric tons on a daily average basis, the National Bureau of Statistics said Tuesday. This broke the previous record of 2.05 million tons of crude steel produced daily in January, the bureau said. In December, daily average production reached just 1.86 million.
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Chuin-Wei Yap, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/iwsovzPbQQI/
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