China’s steel production drops in May on weakening demand

China’s production of molten iron, crude steel and finished steel dropped year on year in May, mainly because weaker demand and lower steel prices have led to losses at steel mills, which then implemented output cuts.

The output of molten iron was 77 million tonnes in May, down by 1.1% from 77.84 million tonnes in April, and down by 4.8% from 80.88 million tonnes in May...