AI Data Insight
China's total pig iron production in the fourth quarter of 2024 reached 851.7367 million tons, a decline of about 2.2% from 871.010 million tons in the previous year, indicating a further slowdown in heavy industry activities. Under the dual blow of a persistently weak real estate market and sluggish domestic demand, steel mills' profits have shrunk significantly, with expanded blast furnace maintenance becoming the main driver of production cuts. Under official capacity governance policies, pig iron output is expected to remain under pressure in the future.