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Why China’s Steel Production Can’t Buck the Downtrend for Long

Annie Gilroy
Updated
Why China’s Steel Production Can’t Buck the Downtrend for Long

China’s (FXI) steel production hit another record in October, coming in at 82.6 million tons and marking the third consecutive month of gains for the country. While China (MCHI) produced record steel on a monthly basis, the average daily output in October was lower than in September, according to Reuters’ calculations. China’s production for the first ten months of the year totaled 782.5 million tons, a rise of 6.4% over the same period last year.

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