Global News Of Note: Chinese Aluminum Output Up, But Steel Production Falls
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- As com reported, China’s primary aluminum output rose 4.8 percent to 3.54 million metric tons between November 2022 and November 2023. Average daily output in November was 118,000 tons. The country’s aluminum demand is estimated to grow four percent for all of 2023 due to increased consumption by the renewable energy sector.
- China’s crude steel output fell 3.8 percent from October 2023 to November 2023, the fifth monthly decline in a row. The country’s producers manufactured 76.1 million metric tons of steel last month, up from 74.54 million tons a year ago. Average daily crude steel output last month was approximately 2.54 million tons, the lowest since December 2022. Read more here.