Reported 25 days ago
In August 2024, China's steel production dropped by more than 10% compared to the previous year, reaching 77.9 million tons, marking the lowest output for the month since 2017. The decline is attributed to low prices, decreased demand, and ongoing construction slumps, leading many mills to close furnaces amid increasing losses. The challenging economic situation continues to impact both the steel and oil industries.
Source: YAHOO