In the January-July period of this year, the aggregate gross profit of the Chinese iron and steel industry amounted to RMB 84.85 billion ($13.86 billion), increasing by 7.8 percent year on year, according to the data released by China's National Development and Reform Commission (NDRC) on September 24. In particular, the aggregate gross profit of China's ferrous metal mining sector totaled RMB 45.68 billion ($7.46 billion), down 7.2 percent year on year, while the aggregate gross profit of the Chinese iron and steel smelting and processing sector was RMB 31.8 billion ($5.2 billion), up 37 percent year on year.
In August, the domestic steel price index averaged at 101.46 points, up 2.07 points month on month, but down 2.93 points year on year. Meanwhile, the average prices of 6.5 mm high speed wire rod and 1.0 mm cold rolled coil (CRC) were RMB 3,594/mt ($587/mt) and RMB 4,515/mt ($738/mt), up by 2.5 percent and 0.9 percent month on month, while down by 3.2 percent and 1.2 percent year on year, respectively. The average price of 20 mm plate was RMB 3,700/mt ($604/mt), up by 1.6 percent month on month and up by two percent year on year.
Moreover, in the first eight months this current year, China's output of metallurgical coke amounted to 315.95 million mt, increasing 7.7 percent year on year, while its output of ferroalloys totaled 22.86 million mt, increasing by 10.3 percent year on year.
During the January-August period, China's imports of finished steel amounted to 9.23 million mt, down by 0.9 percent, while its exports of finished steel totaled 41.98 million mt, up by 17.4 percent, both year on year.