Steel Output Falls in the Middle of January

Domestic crude steel output stood at 16.95 million tons between January 10 and 20 with daily output amounting to 1.70 million tons, down 98,000 tons from the previous ten days. The modest decline had much to do with regular equipment repairs and occasional production incidents at mills. Steel utilization rate continued an upward trend in January, but will be dampened a bit in early February when the Spring Festival holidays prevail.