MNI BRIEF: China Steel Output Down 4.0% Y/Y In July

Chinese crude steel output was 79.6 million tonnes in July, a year-on-year decrease of 4.0%, while finished steel products output totalled 122 million tonnes, a year-on-year increase of 6.4%, data from the China Iron And Steel Association showed on Monday.

During the first seven months, cumulative output totalled 594 million tonnes, a year-on-year decrease of 3.1%, while steel products output was 860 million tonnes, a year-on-year increase of 5.1%, the data showed.

More first-tier cities in China are expected to follow Beijing’s unexpected easing of homebuying restrictions in "non-core" areas ahead of the traditional September-October sales peak, a move that could curb recent declines in the property sector, advisors and analysts told MNI. (See MNI: China's Major Cities To Ease Home Sale Rules)