According to crude steel
production figures for January-August this year, Hebei Iron and Steel Group ranked first among Chinese steel producers with 27,394,600 mt, followed by
Baosteel Group with 26,370,300 mt and Wuhan Iron and Steel Group (
WISCO) with 20,713,500 mt - Luo Bingsheng, vice chairman of the
China Iron and Steel Association (CISA) has announced.
Steelmakers Bohai Iron & Steel Group and Hebei New Wuan Iron & Steel Group have entered the list of the top ten Chinese steel producers in terms of
production, with outputs of 10,910,600 mt and 9,833,100 mt respectively.
Luo Bingsheng said that due to high output of steel in January-August this year, oversupply was observed in the domestic market. Overall steel inventory in
China amounted to 10.8 million mt in late June, up 34.16 percent compared to the beginning of the year. This was also the main factor causing steel prices to decrease in recent months, he said.
China's top ten steel companies in terms of output in the January-August period are Hebei Iron & Steel Group,
Baosteel Group, Wuhan Iron & Steel Group, Anben Iron &Steel Group (18.2324 million mt), Jiangsu Shagang Group (16.8156 million mt), Shougang Group (14.7476 million mt), Shandong Iron & Steel Group (13.3419 million mt), Bohai Iron & Steel Group (10.9106 million mt), Hebei New Wuan Iron & Steel Group (9.8331 million mt) and Magang Group (9.0222 million mt).