China’s Jan-Feb’25 crude steel output falls despite better margins

China’s crude steel output in the first two months of 2025 slid 1.5% from a year earlier, official data showed on Monday, despite better margins and stronger exports.

The world’s largest steel producer manufactured 166.3 million metric tons of crude steel between January and February, the National Bureau of Statistics (NBS) said.

The annual decline defied expectations of some analysts who had forecast a year-on-year rise, citing higher exports.

That was also higher than 2.45 million tons a day in December.

China combines import data for January and February every year to smooth out the impact of the week-long Lunar New Year, China’s biggest holiday.

Analysts also noted that some mills were trying to seize more orders as a global trade war was clouding the demand outlook in the months ahead, threatening steel prices.