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China’sRefractories，Vo1．18，No．4，2009 ·45 · spikesin China’ssteelprices，a swollen stock level by0．6％ yearonyear，reaching107milliontons．The causedbythefastergrowth ofsteeloutputwillleave outputinereased month tomonth ofrsixmonthsin a littleroom forpricestofurtherrise．A genuinerecovery row ． inthemarketstilldependslargelyonwhethermillsand InAsia，China’scurdesteeloutputinSept．in— distributorscanholddowntheirinventories．Theprob- creased28．7％ yearonyear．reaching50．7Omillion lem ofovercapacitymay getworsebetween thefourth tons．andaccountedfor47％ oftheglobalcrudesteeI quarterof2009andearly2010． output；Japan’scrudesteeloutputinSept．was8．3 However．itisofrecastedthegovernment’sCNY milliontons．down18％ yearonyear：SouthKorea’s 4 trillion infrastructure spending on railroads，motor— crudesteeloutputinSept．was4．4milliontons．down ways，airports，irrigationprojectsandruralinfrasturc— 2．4％ yearonyear． turewould help boost the consumption of steelby In European Union，the curde steeloutputs of around 42％ in 2009． Besides， traditional winter GernlanyandFrancein Sept．were3．2million tons hoardsofrsteelwillalsopresentsomeopportunitiesofr and 1．3milliontons．down21．7％ and15．3％ year theplayersintherestofyear2009 on year，respecuvely· Thecurde steeloutputoftheUSA in Sept．was 5．4 milliontons．down31．4％ yearonyear． GlobalCrudeSteelOutputin Sept．Down0．6％ Itisknownfrom theassociationthatthetotalsteel YoY outputofthe66 reported countrieswas866 million ItisreportedbyW orldSteelAssociation on Oct．