China’s Nov crude steel output down by 5% m-o-m on output restrictions

China’s crude steel output was recorded at 87.7 mn t in Nov ’20, declining by 5% against 92.2 mn t in Oct ’20. The autumn-winter production curbs in effect until Mar ’21, and the seasonal dip in long steel demand during the winter season weighed on the output volumes. However, on the yearly basis, the output increased by 9% against 80.29 mn t in Nov ’19.