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National City Bank of New York said，despite the surge in New Crown virus infections in Europe, steel prices and product delivery times mean that steel production in Europe should continue to rise throughout the winter, and production is expected to continue to recover in countries other than China, especially in OECD( Organization for Economic Cooperation and Development) countries.
So far, with the exception of China, the recovery in global steel production has been led by Vietnam, Iran, India and Turkey.
According to the World Iron and Steel Association's latest data, the crude steel production in countries rose 4.7% in November from the previous month and 4.8% from the same period last year. China accounts for more than half of global steel production.
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