Chinese Industrial Production and Steel Output
Industrial output growth in China rose to the highest level since June at 6.2% year-on-year in November, up from 5.6% in October, according to official data. However, average growth of 6.1% for January-November is well below the same period last year when it averaged 8.3%. However, steel continues to make a negative contribution to Chinese industrial production with November's 1.6% fall to 63.3 Mt the eleventh consecutive month of year-on-year decline, according to official data. As a consequence, Chinese steel production in January-November was down by 2.2% on the same eleven months in 2014 at 738.4 Mt.