Steel Output Drops in China as Maike Flags Iron Ore Mismatch
- Mismatch seen between less steel, more iron ore, Maike says
- China steel output to drop 1.4% per year, BMI Research says
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The world’s biggest steelmaker is pouring less metal. Production in China dropped in October from a year earlier as mills battled lower domestic demand, slumping prices and rising industry losses.
Crude steel output was 66.12 million metric tons, 3.1 percent lower than the same month last year, according to National Bureau of Statistics data on Wednesday. Supply for the first 10 months was 675.1 million tons, 2.2 percent less than the same period in 2014.