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Alarm bells in Beijing as steel production reaches all-time high

China turns microscope on steelmakers over profit declines and risk of new glut

Rising Chinese steel production in 2019 coincided with falling profits for major players.   © Reuters

SHANGHAI -- As China's steel production reaches record levels, the Chinese government is growing increasingly uneasy about a harmful glut in the market.

Though the nation's steel output posted its first decline in three-and-a-half years in October, overall production for 2019 appears to have reached an all-time high.

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