China’s steel prices hold steady in October


China’s steel prices remained stable in October, as China’s iron and steel industry has maintained solid growth momentum, according to data from an industry association.

The steel price index released by the China Iron and Steel Association (CISA) came in at 121.72 at the end of last month, up 0.07 percent from a month earlier.

The index marked a rise of 4.97 percent from a year ago, according to the association.

China’s steel output is also on the rise. Official data showed China’s crude steel output went up 6.4 percent year-on-year to 782 million tonnes in the first 10 months.

The data came as the property sector, a major consumer of steel, saw growing investment in the first 10 months.

China’s real estate investment increased by 9.7 percent year-on-year in the first 10 months this year, according to the National Bureau of Statistics.

Source: XINHUA

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