China Steel Output Declines as Economic Transition Cuts Demand
- Crude steel production falls 5.7 percent in first two months
- Industy group says China output to drop 3 percent this year
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China’s steel mills, which supply half of global output, churned out less steel in the first two months of the year, extending a decline amid government efforts to reduce reliance on manufacturing for growth.
Crude-steel production for the January-to-February period dropped 5.7 percent from a year earlier to 121.07 million metric tons, data published by the country’s statistics bureau Saturday showed. Steel products output fell 2.1 percent to 162.28 million tons.