China Steel Output Slumps to a One-Year Low as Prices Collapse
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Steelmakers in China reined in production last month as prices collapsed and the onset of winter in the largest producer curbed demand already hurt by a cooling economy.
Crude steel output fell 1.6 percent to 63.32 million metric tons from a year earlier, according to data from the statistics bureau released Saturday. So far this year, production has dropped 2.2 percent to 738.38 million tons. China makes about half of the world’s steel.