Weak Demand Weighs on Steel Prices

(Beijing) – Steel prices are facing down ward pressure amid sluggish demand and tighter monetary policy, the Ministry of Industry and Information Technology said in a report on November 24. 

Citing data from China Iron & Steel Association (CISA), the Ministry said that China's crude steel output totaled 580.8 million tons in the first ten months of 2011, up 11.1 percent from a year earlier.