Reported about 15 hours ago
China's steel production decreased significantly in May compared to the previous year, marking the first year-on-year contraction since the government announced plans to reduce output to tackle overproduction. Production fell by 6.9% to 86.55 million tons, accompanied by a weaker performance in the property market and ongoing impacts from the US-China trade war. Meanwhile, the aluminum sector saw growth, with production rising 5% due to lower power costs, while fossil fuel output remained more stable despite broader economic challenges.
Source: YAHOO