China's Crude Steel Output 174.22 Million Tons, Up 2.5% YoY in Q1

Source: NDRC, NDRC, ChinaScope Financial (Data)

+       According to data released by the NDRC, China’s crude steel output reached 174.22 million metric tons in the first quarter, up 2.5% year-on-year.

+       The output of steel products was 222.46 million tons, up 6.5% and iron ore imports were 187.62 million tons, up 6% year-on-year.

+       The cement output in Q1 was 398.1 million tons, up 7.3% year-on-year. Average ex-factory price of cement amounted to CNY 363.4 per ton, a decrease of CNY 18.2 per ton compared with in the previous month.

Lower FAI and real estate investment growth underpins the downward growth trend for cement and steel. Growth of cement output in 2012Q1 was a mere 7.3% YoY, while crude steel output growth fell to 2.5% YoY

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