In the January-March period of this year, China's aggregate crude steel output totaled 191.89 million mt, up 9.1 percent year on year, as announced by China's National Development and Reform Commission (NDRC). Meanwhile, the country's finished steel output in the given period reached 245.51 million mt, up 12.3 percent on year-on-year basis.
In the first three months of this year, China's outputs of coke and ferroalloys came to 114.89 million mt and 8.15 million mt, up 9.1 percent and 15.1 percent respectively, both year on year.
In the January-February period of this year, the aggregate gross profits of the overall Chinese iron and steel industry (including mining, smelting and processing) amounted to RMB 22.26 billion ($3.6 billion), decreasing by 1.7 times on year-on-year basis. Meanwhile, the gross profits of China's ferrous metal mining sector in the given period amounted to RMB 9.73 billion ($1.56 billion), down by 4.3 percent year on year, while the gross profits of the country's iron and steel smelting and processing sector totaled RMB 10.11 billion ($ 1.6 billion), compared to a net loss of RMB 2.86 billion in the same period last year.
In March, the steel composite price index for the Chinese domestic market was 107.99, down 1.72 points month on month and 12.34 points year on year. In particular, the average market price of 6.5 mm diameter high-speed wire rod was RMB 3,741/mt ($601/mt), down two percent month on month and 14.4 percent year on year. The average market price of 20 mm steel plate was RMB 3,953/mt ($636/mt), up 0.7 percent month on month and down 10.6 percent year on year. The average market price of 1.0 mm cold rolled steel coil was RMB 4,810/mt ($773/mt), up 11.7 percent month on month and down 7.5 percent year on year.