China's crude steel production up 8.4pc.

China produced 748 million mt of crude steel in January to September, 8.36 percent higher from the same period last year, said China Iron and Steel Association (CISA) executive vice-chairman He Wenbo at a press conference on October 29. Domestic production of crude steel this year will likely increase 7.1percent from that in 2018, to stand at 994 million mt. He said "the growth rate is considered rather high given a high base in 2018." He added that the additions in steel output were consumed domestically as both inventories and exports shrank...