* March steel output at 94.02 mln T vs 78.98 mln T year
* Average daily output at 3.03 mln T
* Jan-March output up 15.6% from same period year earlier
BEIJING, April 16 (Reuters) - China's crude steel output
jumped 19% in March from the same month a year earlier, official
data showed on Friday, as steelmakers beefed up production on
high profit margins even as environmental restrictions kicked
The world's biggest steel producer churned out 94.02 million
tonnes of crude steel last month, the highest since August 2020,
data from the National Bureau of Statistics (NBS) showed. That
compared with 78.98 million tonnes in March 2020.
Average daily output last month increased to 3 million
tonnes from a daily average of 2.97 million tonnes in
January-February period, according to Reuters calculations based
on the NBS data.
Chinese steel mills are benefiting from a booming
manufacturing sector, buoyed by a jump in the output of products
with metal-content and robust seasonal construction activities.
At least 10 steelmakers that have announced their
preliminary first-quarter results are expecting significant
jumps in their net profits.
The high profit margins could encourage mills to increase
production though a clean commitment by Beijing had curbed some
output and pressed overall blast furnaces utilisation rates.
Long-processing steelmakers in the steel hub Tangshan, which
accounts for 13.5% of China's total output, have been asked to
cut their production by 30-50% throughout this year in an effort
to reduce emissions.
In the first quarter of 2021, China produced 271.04 million
tonnes of crude steel, increased 15.6% from same period last
year, the NBS data showed.
(Reporting by Min Zhang and Shivani Singh. Editing by Gerry