China 2023 steel output to rise

Steel strong: Workers at a steel company in Huaian in eastern Jiangsu province. China, which makes about 55% of the world’s steel, produced 874.7 million tonnes in the first 10 months of the year, up 1.4% from the same period in 2022. — AFP

CHINA’S steel output is expected to rise for the first year in three in 2023 as a soft domestic property sector is compensated by strong vehicle manufacturing and rising exports.

The country, which makes about 55% of the world’s steel, produced 874.7 million tonnes in the first 10 months of the year, up 1.4% from the same period in 2022, according to official data.