China's daily output of crude steel jumps 24% in mid-February

China's major steel mills saw their average daily output of crude steel rise 24.38 % year-on-year in mid-February, according to data from the China Iron and Steel Association.

Major steel producers churned out 22.82 million tonnes of crude steel in mid-February.

Raw material shortages have been are among the factors that have been impacting on fastener prices and stock availability.

Daily production of pig iron jumped nearly 17 % from a year ago during the period, while that of rolled steel surged 25.3 % year-on-year.

The sharp increase in daily output was mainly due to a low comparison base and rising domestic demand, the association said.

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