China's June crude steel production record, "market steel speculation" or will continue

As the world's largest steel producer, China's crude steel production hit a record high in June, with domestic demand increasing, rising prices and robust margins.

According to statistics released by the National Bureau of statistics on Monday, China's crude steel production in June grew 5.7% to 73 million 230 thousand tons, 1-6 months crude steel production rose 4.6% to 4.1975 tons.

About half of the global output of China's steel enterprises are in a "sweet spot", in the elimination of backward production capacity measures lead to steel and other steel products after the shortage of supply, large steel mills have increased production. While China's steel industry recorded record performance, China's GDP growth in the second quarter exceeded expectations.