China’s pig iron production rose by 5.1pc to 73,894mt in November from 70,785mt in the prior year, according to the National Bureau of Statistics data.
China’s pig iron output is expected to contract to 775 million tonnes in 2020 from 800 million forecasted for 2019, as per China Metallurgical Industry Planning and Research Institute.
Pig iron production grew earlier in the year followed by a decrease in the Aug-Nov period as global steel demand weakened and China-based steelmakers curbed steel production. Also, as Chinese authorities pushed mills to upgrade their facilities, the time taken to replace new facilities with the old one resulted in a slight decrease of pig iron output.