The production of steel, cement and aluminium in China is likely to pick up as construction activity increases in the warmer months from 2Q24, Fitch Ratings says. The increases in steel and aluminium output are likely to be larger as producers are encouraged by stronger margins, while the rise in cement production is likely to be limited. China’s crude steel production decreased by 2% yoy in 1Q24 as margins remained weak and demand is usually lower amid the colder weather, which resulted in voluntary plant maintenance. The average selling price (ASP) for steel decreased on high single digit yoy while that for iron ... (full story)