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Steel Output Increased Due to Price Rise

Steel Output Increased Due to Price Rise

In October 2013, the output of global crude steel raised by 6.6%, reached 134 million MT. Steel prices have recovered from a three-year low hit in June, pushing some steel mills to increase capacity utilization. Based on the latest info from the World Steel Association on Wednesday, the steel production of China and others main steel producing regions strongly increased last month. Authority data shows that steel output in China, the top producer and consumer of the alloy rose 9.2% to 65.1 million MT. Asian output gained 8%, also helped by higher production in Japan, the world's second-largest steel producer. Europe as the second -largest producing regions, obtains a growth of 4%, and North America, third-largest producing area, increased by 6.6%.