Crude steel output drops for 6 straight months
Updated: 2012-01-04 10:26
(Xinhua)
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BEIJING - China's crude steel output posted its first yearly decline in November 2011 to 49.88 million tons, according to latest data provided by the country's top economic planner.
The National Development and Reform Commission (NDRC) said in a statement on its website that the November crude steel output was 0.6 percent lower than that of the same period in the previous year.
On a month-on-month basis, the November crude steel output fell 8.8 percent, extending the monthly decline to six months in a row, dragged down by falling prices in steel prices, according to NDRC.
As steel prices remained at their lows amid weak demand, it is unlikely for crude steel output to rebound sharply in the short run, said the NDRC.
The NDRC projected China's crude steel output would be around 680 million tons in 2011, retaining the title as the world's top steel producer.
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