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Operation of the steel industry from January to October 2021
Nov.24
1. Cumulative crude steel output fell year-on-year. Since July, the crude steel output has maintained a year-on-year decline for April. According to data from the National Bureau of Statistics, in October, the country’s crude steel output was 71.58 million tons, down 23.3% year-on-year, and the average daily output was 2.309 million tons, down 6.1% from the previous month. Nissan has the lowest since 2018. From January to October, the country’s cumulative crude steel output was 877 million tons, down 0.7% year-on-year, and positive results were achieved in reducing crude steel output.
2. Steel prices continued to fall. Affected by factors such as the decline in raw material and fuel prices, steel prices have fallen sharply recently. According to data from the China Iron and Steel Association, on November 12, the domestic steel composite price index was 136.81 points, down 13.2% from the end of September, and up 22.1% from the same period last year; the price of rebar was 4643 yuan/ton, down 18.6% from the end of September ; The price of hot-rolled coils was 5,009 yuan/ton, down 14.9% from the end of September. Steel prices have fallen back to the level of early March this year.
3. Steel exports continued to decline month-on-month. According to data from the General Administration of Customs, in October, my country exported 4.497 million tons of steel, a month-on-month decrease of 8.6%; and imported 1.127 million tons of steel, a month-on-month decrease of 10.3%. From January to October, my country exported 57.52 million tons of steel products, a year-on-year increase of 29.5%; cumulative imports of steel products were 11.84 million tons, a year-on-year decrease of 30.3%.
4. The price of iron ore returned to fluctuating. According to data from the China Iron and Steel Association, on November 12, the CIF price of imported iron ore (62% grade) was US$89.18/ton, a decrease of 24.8% from the end of September and a decrease of 61.3% from the highest point of US$230.59/ton during the year. According to data from the General Administration of Customs, my country imported 933 million tons of iron ore from January to October, down 4.2% year-on-year, and the average price was US$175.9/ton, up 73.6% year-on-year.
5. Inventories of steel companies increased slightly year-on-year, while social inventories decreased slightly year-on-year. According to statistics from the China Iron and Steel Association, in late October, the steel inventory of key statistical enterprises was 12.84 million tons, an increase of 7.5% over the end of September and an increase of 5.7% over the same period last year. The social inventory of five major types of steel in 20 cities was 9.69 million tons, a decrease of 9.0% from the end of September and a decrease of 14.0% from the same period last year.
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