LONDON : Global steel output slid 10per cent last month year-on-year due to weakness in top producer China, which analysts said is likely to persist in coming months due to a troubled property sector.
Compared to last month, Chinese output slipped 3.2per cent, showing that production may be stabilising at lower levels, Caroline Bain, chief commodities economist at Capital Economics, said in a note. "Looking ahead, we expect this weakness to persist, which will act as a lid on any plans to bring steel capacity back online."
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