China drives 4.6% gain in world raw steel output in Oct.
Nov 18, 2005 | 11:35 AM
| Scott Robertson
World raw steel production registered a 4.6-percent increase to 96.6 million tonnes in October, with China again the main driver behind the gain, according to figures released by the International Iron and Steel Institute, Brussels.
Absent China, world raw steel output in the first 10 months of the year would have registered a decline, the IISI said.
The October production increase kept world crude steel output on pace to shatter the record of more than 1 billion tonnes set last year. With two months left in 2005, crude steel production has already eclipsed the 900-million-tonne mark this year.
The gain in China more than offset production cuts in the United States and Canada, where steel mills continued to stick to plans to trim production in the face of higher inventory levels. The situation in North America could be on the verge of changing, though, as service center inventories have been lowered recently, leading to more tightness on the supply side of the market.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here