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Rail Crash Aftermath Dampens Steel Output
Source: Bloomberg News |
September 14, 2011, Wednesday
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Print Edition
Print Edition
CHINA'S crude steel production, the world's biggest, fell for a third straight month in August partly because of a slowdown in railway construction following the fatal train crash in July.
Output fell by 0.8 percent to 58.8 million metric tons last month from 59.3 million tons a month previously - the third monthly drop since May, according to data provided by the National Bureau of Statistics. Production was a record 60.3 million tons in May.
China ordered railway inspections nationwide to ensure safety standards after the July 23 train crash near Wenzhou in east China killed 40 people. China consumes about 200,000 tons to 300,000 tons of reinforcing steel bars and rods a month in rail construction, according to Mysteel.com chief analyst Xu Xiangchun.
Output fell by 0.8 percent to 58.8 million metric tons last month from 59.3 million tons a month previously - the third monthly drop since May, according to data provided by the National Bureau of Statistics. Production was a record 60.3 million tons in May.
China ordered railway inspections nationwide to ensure safety standards after the July 23 train crash near Wenzhou in east China killed 40 people. China consumes about 200,000 tons to 300,000 tons of reinforcing steel bars and rods a month in rail construction, according to Mysteel.com chief analyst Xu Xiangchun.
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