[Ferro-Alloys.com] Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 15 showed that ferrosilicon rices remain steady worldwide amid stagnant demand.
China has started investigating production capacity at its steel mills amid increasing worries about the rapid growth in output this year, according to a notice circulated online. The notice jointly issued by the National Development and Reform Commission, Ministry of Industry and Information Technology and the National Bureau of Statistics urges local governments and the State-owned Assets Supervision and Administration Commission to verify the steel firms’ capacity, production and fixed-asset investments.
China's crude steel production dropped 0.6% on the year to 81.52 million mt in October, marking the first time output has fallen on an yearly basis since early 2016, according to data released late Thursday by the National Bureau of Statistics.
The decrease was mainly due to mandated production cuts in early October to ensure the skies around Beijing were clear ahead of celebrations for the 70th anniversary of the People's Republic of China.