China’s daily crude steel output fell 6.1% from a month earlier to 2.3 million tonnes in October, its lowest since December 2017, according to Reuters calculations based on data released by the statistics bureau on Monday.
For the month, the world’s top steel producer made 71.58 million tonnes of the metal, falling for a fifth straight month and was down 23.3% from same month a year earlier, data from the National Bureau of Statistics (NBS) showed.
China’s monthly steel production has been falling since July after seeing a double-digit growth in the first half of the year. The imposition of strict output controls and curbs on power usage have dented both supply and demand.