According to the data released by NBS (The National Bureau of Statistics), China's steel production increased by 3.9% year-on-year to 61.58 million t in March of 2012 and its average daily crude steel output in the given period stood at 1.9865 million t, up 60 thousand t from previous month. Meanwhile, the year-to-date crude steel production amounted to 174.22 million t, rising by 2.5% year over year.
Even though the domestic crude steel output has continued emerging a robust trend, the market demand from final customers in this year is still remaining at tepid levels owing to the rollback of the fixed asset investment activities.
Under this oversupplied circumstances, it is very difficult for domestic steel prices to take on upward trend in the long run.