China’s 2012 crude steel output up 3%

China, the world’s largest steelmaker, produced 716.54 million tonnes of crude steel in 2012, a 3.1% increase on the year.

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This figure is lower compared to 2011’s year-on-year growth of 8.9%, due to the moderating of China’s economy, according to data released by the National Bureau of Statistics (NBS).

China’s GDP growth for 2012 was 7.8%, which was the slowest rate in the past 13 years.

Output in December 2012 totalled 57.66 million tonnes, or an average of 1.86 million tpd, down 2.9% from November, NBS said.

Previous estimates from China Iron & Steel Assn put the country’s crude steel output at 697.48 million tonnes for 2012.