At the end of 2015, the composite steel price index (CSPI) for the Chinese domestic market was at 56.37 points, down 25.54 points or 31.1 percent from the 81.91 points at the beginning of 2015, according to data released by the China’s Ministry of Industry and Information Technology (MIIT).
In 2015, China’s overall crude steel output totaled 804 million mt, down 2.3 percent year on year, marking the first decline in the annual output figure in nearly 30 years. Meanwhile, China’s finished steel imports and exports in 2015 totaled 12.78 million mt and 112.40 million mt, up 19.9 percent and 11.4 percent year on year, respectively.
In 2015, a total of 37 anti-dumping and countervailing cases were initiated against Chinese finished steel exports. In addition, severe overcapacity in China’s domestic steel industry, declining demand in the world market and the declining trend of oil prices will exert negative pressure on China’s domestic finished steel market. The MIIT said it expects that China’s finished steel exports will likely face greater resistance in 2016.