China’s crude steel production in 2009 rose 14% from the year before to a record 568 million tons as stimulus spending and loose lending bolstered demand from infrastructure projects and autos, Bloomberg reported. According to the National Bureau of Statistics, steel production jumped 10.7% in the October-December period, the fastest growth recorded since 2007. "The two-year stimulus package will continue fueling China’s steel production, even as a credit tightening may slow lending for new projects," said OSK Asia analyst Helen Lau. Rio Tinto said its fourth-quarter iron ore output rose 49% to 47.2 tons due to strong demand from China. China’s December iron ore imports jumped 22% to the second-highest level recorded.
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