The October steel total marked a decline of 10.6% on a year-over-year basis. Meanwhile, output increased by 0.4% compared with the previous month. In China, the world’s top steel producer, output peaked this year at 99.5 million tons in May. Since then, China’s output has declined each month, according to the World Steel Association. The country’s October steel production totaled 71.6 million tons, down from 73.8 million tons in September. The pace of GDP growth in China slowed to 4.9% in Q3, according to National Bureau of Statistics data. GDP had increased by 7.9% year over year in Q2 2021. For the year to date, ... (full story)