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China Posts Record-High Steel Output for March -- Market Talk

17 Apr 2017 4:41 am

0441 GMT - China produced a record amount of steel in March, which was up 1.8% to 72 million metric tons, tracking robust first quarter expansion in the broader economy. Investment in infrastructure largely fueled steel output, a bellwether for Beijing's reliance on heavy industry for economic growth. "The rise in industrial value-add was driven mainly by the raw-material industry," said Morgan Stanley analyst Steven Zhang, pointing to rising construction and renovation in the real-estate sector. (chuin-wei.yap@wsj.com; @YapCW)

(END) Dow Jones Newswires

April 17, 2017 00:41 ET (04:41 GMT)

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