(MENAFN) China's crude steel output sustained its turmoil in August, falling 3.5 percent y-o-y to USD66.9 million tons, as opposed to 1 percent growth in 2014's corresponding period.
Furthermore, the output declined 2 percent y-o-y in Jan-August period, climbing from the first seven months' 1.8 percent drop, according to the National Development and Reform Commission (NDRC).
Steel industry used to be one of the key boosters for China's economy, but the overall slowdown atmosphere that is affecting the country has cooled down this major business division.
In more detail, medium- and large-sized steel manufacturers faced damages of USD3.4 billion in the six months to June, based on data from the China Iron and Steel Association.
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