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China- Production of crude steel grows 2.1% in Jan-Oct  Join our daily free Newsletter

MENAFN - 02/12/2012

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(MENAFN) China's National Development and Reform Commission (NDRC) announced that in the January-October period, the country's production of crude steel gained 2.1 percent from 2011's same time, reported Xinhua News.

The NDRC said that in the period, China produced 602.23 million tons of crude steel, with exports of the metal growing 11.8 percent to 45.78 million tons.

On the other hand, imports of crude steel declined 12.2 percent in the first 10 months to 11.55 million tons.

It added that in October alone, Chinese crude steel production went up by 6 percent.

Profits of the steel industry in the January-September period plunged 54.3 percent from a year earlier to USD14.44 billion due to China's slowing economic growth.

 






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