Chinese Steel Output, Aluminum Exports Surge
- According to Reuters, steel output in China increased to record levels in October, rising to 82.55 million tons from 80.85 million tons in September and from 72.36 million tons in October 2017 and marking the “highest monthly volume in records dating back to 2010.” Average daily output was down 1.2 percent from September to October so the increase was due to the fact there is one additional day in October. Output over the first ten months of the year was 782.46 million tons, an increase of 6.4 percent from the same period in 2017. Click here to read the full report.
- American Metal Market (subscription required) reported last week that Chinese exports of unwrought aluminum and aluminum products declined 4.9 percent between September 2018 and October 2018, but increased by 37.7 percent between October 2017 and October 2018.