Average daily steel production during the month was 2.74 million tons, lower than 2.79 million tons in August 2023 and 2.9 million tons in September 2022, and representing the lowest level of production since last December.
This is the third consecutive month of decline, despite market expectations for a rise in output as steel mills increase workloads at the peak of the construction season. In the first nine months of 2023, China's total steel output rose 1.7% year-on-year to 795.07 million tons. The data show an unexpected downward trend in steel output, with September's figures reflecting the lowest production levels observed this year.
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