China’s steel output up 8.3 pct for Jan-November
China’s steel production climbed 8.3 percent year on year to 1.01 billion tonnes in the first 11 months of the year, according to the country’s top economic planner.
The pace of growth accelerated from a rise of 7.8 percent registered in the January-October period this year and 1.1 percent registered during the same period of 2017, according to the National Development and Reform Commission (NDRC).
The pick-up came despite continued slackness in investment of infrastructure and property development, both major consumers of steel.
The country’s property development investment went up 9.7 percent in the first 11 months, with the pace of increase sliding for four consecutive months.
In November alone, the country’s steel output rose 11.3 percent from one year earlier, reversing a decline of 2.9 percent recorded in November 2017, according to the NDRC data.