China's steel output decreased in late Oct

The daily output of China's major steel companies in late October dropped 5.39 percent, or 86,600 metric tons, compared with the previous 10 days to 1.51 million tons, said a report issued on Wednesday by the China Iron and Steel Association.

Daily rolled steel output declined to 1.53 million tons, a 4.43 percent drop compared with the last cycle.

Xu Xiangchun, a senior analyst at industrial information provider Mysteel.com, said that the declining trend is hard to explain because from a market perspective, steel plants should grab the chance to increase production at a time when steel prices are rebounding and inventories are falling.

Recommended Features: [Special]'Made in China' Revisited From 'Made in China' to 'Created in China' A Journey to Cultural Renaissance Gold collection issued to mark 'Year of Snake' China: A Fast-growing Force in IPR IPR in China: Local Roots Bearing Global Fruits China Int'l Industry Fair opens in Shanghai Caofeidian coal wharf put into use Canton Fair wraps up on Sunday