According to the World Steel Association, a surge in Chinese steel demand has pushed global output close to what it was before the global economic crisis.

It said that production in the 66 members of the association, which includes the main metal producers in the world, has been growing since April and was 0.6% lower in September than in September 2008 at 107 million tonnes.

Output in China grew 28.7% in September on a 12 month comparison to 50.7 million tonnes, while Japan's output was down by 18%, Germany's was 21.7% lower and the US level was 31.4% below last year's.

Global steel production for the first nine months of this year was 866 million tonnes, 16.4% YoY lower.