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China's crude steel output rises slightly
China's crude steel output rose slightly in the first eight months this year, data from the country's top economic regulator showed. Crude steel production increased 5.6 percent year-on-year to 566.41 million metric tons in the January-August period, compared with a 0.1-percent decrease in the same period last year, according to the National Development and Reform Commission. Meanwhile, steel prices continued to pick up, with the domestic steel price index gaining 7.9 points from July to 112.77 in August, and increasing 37.51 points from a year earlier, according to the NDRC. Steel prices were lifted by higher iron ore costs, improved demand as well as lower supply due to government policies to cut steel overcapacity and enhance environmental protection, according to the China Iron and Steel Association.
