Bimco: China's steel production sidesteps bulk

In April the average Chinese steel production reached a record-high 2.29 million tons per day, but this development has not affected the dry bulk market, says Bimco.

In order to meet the seasonal demand, Chinese steel yards increased their production to record-high levels in April 2014 measured by daily volumes, says Bimco. The steel yards produced an average of 2.29 million tons of steel per day.

Demand for steel traditionally rises in the 2nd quarter, as both the building and construction sectors increase their pace once the weather improves.

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