China steps up steel output

China, which contributes 48% of global steel output, is living in a different world, with output rising 4.6%, marking the fifth successive month of rising output
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First Published: Sun, Feb 24 2013. 11 28 PM IST
Global crude steel output in January rose by a measly 0.8%. Photo: AFP
Global crude steel output in January rose by a measly 0.8%. Photo: AFP
Mumbai: Global crude steel output in January rose by a measly 0.8%. Steelmakers have been cutting output, notably in Europe, to cut supply and support prices. Global capacity utilization is down to 71.2%, from 77.7% in September. The CIS (Commonwealth of Independent States) countries and North America have also seen output decline. But China—which contributes 48% of global steel output—is living in a different world, with its output rising by 4.6%, marking the fifth successive month of rising output. The worry for steelmakers is how much of this output will be exported, as that can upset their supply tightening efforts.
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First Published: Sun, Feb 24 2013. 11 28 PM IST
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