The month's daily output averaged about 2.64 million tons, compared with 2.57 million tons in September and 2.55 million tons in October 2023, according to Reuters calculations based on the data.China's crude steel output rose 6.2% in October from September, ending a four-month slide, official data showed on Friday, amid improved demand and a boost to sentiment from Beijing's recent burst of economic stimulus.
The world's largest steel manufacturer produced 81.88 million metric tons of crude steel last month, up from 77.07 million tons in September, data from the National Bureau of Statistics showed.
October's volume was also up 2.9% from a year earlier, NBS data showed.
Analysts attributed the rise in output to improved demand and production margins following Beijing's economic stimulus measures.
The increased demand was reflected in China's average daily home sales during the Golden Week holiday, which leapt 23% by floor area from a year earlier, while manufacturing activity expanded for the first time in six months and services picked up in October.
Also, steel exports hit a nine-year high of 11.18 million tons in October.
Output in the first 10 months of 2024 fell 3% on the year to 850.73 million tons, the bureau said.
Output in November is expected to fall due to seasonally weaker demand, analysts said.
China revised up its total crude steel output for 2023 by nearly 1% to 1.029 billion tons from 1.019 billion tons previously.
