SHANGHAI, April 9 (Reuters) - China’s daily crude steel output in March fell more than 4 percent from February, as Chinese steel mills cut production due to declining exports and lower prices, Chinese newspapers reported on Thursday.
China produced about 42.9 million tonnes of crude steel in March, for a daily output rate of 1.384 million tonnes, the official Shanghai Securities News and the China Business News said, citing figures from the China Iron and Steel Association.
The daily rate fell from February’s 1.447 million tonnes, as mills again scaled back production after a short-lived recovery in domestic prices had spurred an increase early in the year, the newspapers said.
A slide in steel product exports also squeezed steelmakers. China became a net importer of steel products in March for first time since 2006, the China Business News said, citing an unnamed source. (Reporting by Alfred Cang; Editing by Edmund Klamann)