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China's crude steel output to hit record high in August
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China's crude steel output will probably hit another record high of around 51.65 million tonnes for August, statistics from the China Iron and Steel Association (CISA) show.

The CISA estimated the August daily output at 1.67 million tonnes.

China posted a record crude steel production this July, producing 50.68 million tonnes, with a daily output of 1.64 million tonnes, according to figures from the National Bureau of Statistics.

CISA data shows 71 of China's large-scale steel producers yielded 39.43 million tonnes of crude steel in August, up 1.97 percent compared to July; and daily production was 1.27 million tonnes.

Rising steel prices and increased orders in July are considered the cause for the increase in output, said Zhang Ping, an analyst with Umetal.com.

But crude steel output is likely to decrease in September because of a fall in its price, and because of an increase in inventory in August, said Zhang.

(Xinhua News Agency September 10, 2009)

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