Bloomberg reported that China’s daily steel production in May fell from the previous month and may decline further in June as mills cut output because of waning demand and prices.

Based on monthly data collated by the National Bureau of Statistics, the daily output was 1.98 million tonnes in May 2012 as compared with 2.02 million tonnes in April

Crude-steel output was 61.23 million tonnes in May as against 60.57 million tonnes in April.

Production in May gained 2.5% YoY.

For the first five months of this year, steel output climbed 2.2% YoY to 296.3 million tonnes.

Mr Hu Yanping chief analyst with researcher Custeel.com in Beijing said that daily production may drop to between 1.9 million tonnes and 1.95 million tonne in June

He said “Some mills have actually brought down production slightly amid falling prices, as the May figures imply daily output was lower than April levels. Steel output may fall further in June as mills are barely profitable at current prices.”

frindes links : www.mesh-fence-panels.com