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Output of crude steel gains 8% to 652m tons
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china’s crude steel output rose 8.3 percent year on year to 652.48 million tons in the first 10 months of this year, faster than the 2.1-percent gain seen in the same period last year, the country’s top economic planner said yesterday.
The output of rolled steel rose 11.6 percent from a year ago to 888.32 million tons during the same period, 5.3 percentage points more than the growth over the same period last year, according to the National Development and Reform Commission website.
From January to October, steel exports rose 13.6 percent year on year to 51.97 million tons, while imports edged up 0.6 percent to 11.62 million tons, the NDRC said.
However, steel prices fell in October, with the steel price composite index down 1.62 points to 99.76 points, from 101.38 points in September, according to the NDRC.
China’s iron and steel sector has been pounded by weak demand and falling prices and suffered greatly from overcapacity.
In July, President Xi Jinping urged that tackling overcapacity should be a priority, with more efforts to boost industrial restructuring.
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