China's steel production decreased by 1.1% month-on-month in September 2024, reaching 77.07 million tons, the lowest output since December 2023. This decline is attributed to improved seasonal demand and a stimulus package from Beijing, which has helped mitigate previous larger declines. Year-on-year, production fell by 6.1%, while average daily production rose by 2.2% month-on-month but dropped 6.2% year-on-year to 2.57 million tons. In the first nine months of the year, China's steel production decreased by 3.6% year-on-year, totaling 768.48 million tons, as nearly 20% of steel mills reported profits by the end of September, up from just 3.9% in August.