MNI BRIEF: China Crude Steel Output Down Over Jan Feb

China produced 166 million tonnes of crude steel during January to February, down 1.5% y/y, data from the China Iron and Steel Association showed on Tuesday. 

The production of steel products totalled 224 million tonnes y/y, an increase of 4.7%, the data showed.

Beijing’s moves to boost domestic demand and market expectations for output cuts should keep steel rebar futures at around CNY3,150-3,400 a tonne over the next few months, local analysts told MNI, though rising global tariff barriers and increasing iron supply could present downside risk later in the year. (See MNI: China Stimulus To Support Steel Futures Until Peak Season)