Yesterday, according to the latest data released by the China Iron and Steel Association, the average daily output of crude steel at key enterprises in late June was 1.7624 million tons, up 0.97% from the previous ten-day period and a record high; estimated national crude steel output was 2.1812 million tons, up 0.78% from the previous ten-day period. Since entering June, national crude steel output has risen for three consecutive ten-day periods.

Data provided by the China Iron and Steel Association show that in late June the estimated average daily crude steel output of non-key enterprises was 419,000 tons, unchanged from May, accounting for 19.2%.

Qiu Yuecheng, an analyst at Xiben New Line, said the recent rapid rebound in steel prices has given steel enterprises a slight profit, which has prompted steel mills that had been forced to suspend production for maintenance under overcapacity and environmental pressure to resume production one after another. This is the direct cause of the rebound in crude steel output in this round.