According to the latest data from the China Iron and Steel Association, the daily average production of crude steel in China was expected to be around 1.96 million tons in the second half of December last year.
This is the first time to slump under 2 million tons since February, 2013. Meanwhile, Chinese steel mills' stock also dropped sharply by around 6.86%.
Chinese government are seriously concerned about its policy of environmental protection since last November, implementing the power rationing and output restriction in the known heavy polluted areas. In addition, the steel market in China was in low season to make weak demand for steel products from November.
Therefore, the production of crude steel has declined in December last year. It is expected that the output would keep going down due to severer policy of environmental issue in 2014.
