China’s Steel Production and Crude Oil Refining Experience Slumps Amidst Economic Woes

In a concerning trend for the global economy, China's steel production and crude oil refining operations have both seen significant declines. Recent reports indicate that the country's monthly steel output dropped by 1.5% in September compared to the previous year, marking the lowest production levels recorded for that month since 2018. This downturn is a critical indicator of the ongoing challenges within China’s manufacturing and construction sectors.

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