[Ferro-Alloys.com] China's investment in property rose 11.8% year on year to Yuan 1.31 trillion ($193.8 billion) in August and in infrastructure rose 4% to Yuan 1.35 trillion, S&P Global Platts has calculated based on the latest data released by National Bureau of Statistics Sept. 15.
Steel production hit a record 94.85 million mt in August, up 1.6% month on month and 8.4% higher year on year, National Bureau of Statistics data released Sept. 15 showed. Over January-August, output was up 3.7% on year at 688.89 million mt.
China's pig iron output edged up 0.5% on month and rose 5% on year to 78.55 million mt in August, taking total output over January-August to 589.4 million mt, up 3.4% on year.
Iron ore prices are expected to remain relatively strong in the October-December quarter despite demand falling on the back of reduced crude steel production, according to the latest S&P Global Platts quarterly Iron Ore & Steel Outlook released Sept. 16.
The Outlook found that 54% of respondents expected iron ore prices to range between $100/mt and $110/mt CFR China in calendar Q4. Just over one-third believed iron ore prices would stay above $110/mt and 11% thought they would fall below $100/mt.