China’s crude steel production dropped to 72 million tons in October, sliding by 12.1% compared to the same month a year earlier, with daily output averaging 2.322 million tons. Steel product output inched down 0.9% year on year, while pig iron declined 7.9%.

The industry has posted lower crude steel volumes than last year for six straight months, as weak autumn demand and upcoming winter controls keep production subdued and push the market into its seasonal slowdown.

For the first ten months of this year, China’s crude steel output reached about 818 million tons, with 1.218 billion tons of steel products and 711 million tons of pig iron. Based on current trends, annual crude steel production is expected to be roughly 980-990 million tons, potentially dipping below the 1-billion-ton level for the first time in six years.