China’s crude steel output expanded 11.39 percentage points slower than a year earlier at just 6.22% over the first three quarters after production declined 9.1% year-on-year in September, the Securities Times reported, citing China Iron & Steel Association (CISA) figures. No actual production figures were reported. The domestic supply of crude steel was down 15.9% on a year earlier. CISA analysts said the downturn was due to diminishing offshore demand caused by the unfolding global economic crisis and falling prices. They were optimistic steel prices would bounce back as the supply-demand curve rebalanced. China’s economy registered a relatively moderate but still reasonably strong growth of 9.9% over the first nine months of the year and fixed asset investment grew 27%.