Daily steel out­put de­clines to year’s low­est level

China Daily (Canada) - - BUSINESS -

The coun­try’s daily crude steel out­put fell 3.3 per­cent in Oc­to­ber to 2.18 mil­lion metric tons, its low­est rate this year as mills con­ducted over­hauls amid sag­ging de­mand ahead of en­forced pro­duc­tion cuts in early Novem­ber. China pro­duced 67.52 mil­lion tons in Oc­to­ber, com­pared to 67.54 mil­lion tons in Septem­ber, a 0.3 per­cent fall from year-ago lev­els, data from theN­ational Bureau of Statis­tics showed on Thurs­day. De­mand re­mained rel­a­tively weak with cru­cial down­stream sec­tors such as prop­erty still slug­gish. For the first 10 months, to­tal steel out­put stood at 685.35 mil­lion tons, up 2.1 per­cent, the bureau said, amount­ing to a daily rate of 2.25 mil­lion tons.

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