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China's average daily crude steel output rebounded to above 1.9 million tonnes in the first 10 days of October, as rising steel prices prompted mills to lift production even as the demand outlook for the rest of the year remains weak.
Average daily crude steel output in the world's top steel producer rose to 1.916 million tonnes between October 1-10, up 4 percent from September 21-30, data from the China Iron & Steel Association showed on Wednesday.
Average daily steel production had been below 1.9 million tonnes from mid-August, with the slowing economy in China hitting demand and pushing steel mills to curb output.
The latest round of gains in steel prices has encouraged steel mills to ramp up production, also lifting demand for key ingredient iron ore |