From http://news.theage.com.au/breaking-news-business/china-boosts-world-steel-output-20091121-ir81.html Does it mean anything good for this company? Next financial year should look much better.
China boosts world steel output November 21, 2009 - 8:01AM AFP
World steel output rose 13.1 per cent in October from the level of output a year earlier, driven largely by production in China, the World Steel Association says.
Production came to 112 million metric tons, the association says, adding that following a revision of September figures, the October total represented the second straight monthly gain since September 2008.
Output was up 1.0 per cent to 108.8 million tonnes in September, the association, which covers steel production in 66 countries, said on Friday.
World steel production in the first 10 months of the year had fallen 13.5 per cent in the global financial downturn, with demand shrinking in such key industries as construction and automobile manufacturing.
The turnaround that began in September is mainly attributable to China, the world's leading producer.
Chinese production in October was up 42.4 per cent from the same month last year at 51.7 million tonnes.
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