In the January-October period of this year, China’s aggregate crude steel output totaled 602.23 million mt, up 2.1 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 789.45 million mt, up 6.3 percent on year-on-year basis.
In the first 10 months of this year, China’s outputs of metallurgical coke and ferroalloys were 369.29 million mt and 25.52 million mt, up 4.2 percent and 10.5 percent respectively, both year on year.
In October alone, China’s crude steel output increased by two percent month on month and by six percent year on year, while its finished steel output increased by 11.7 percent year on year. In the given month, China’s coke output and ferroalloy output indicated respective year-on-year increases of six percent and 11.5 percent.
In October, the composite steel price index in the Chinese domestic market stood at 105.31 points, up 4.84 points compared to September but down 21.56 points compared to October last year. In particular, the prices of 6.5 mm diameter high speed wire rod, 20 mm steel plate and 1.0 mm cold rolled coil were RMB 3,823/mt ($613.6/mt), RMB 3,683/mt ($591.2/mt) and RMB 4,568/mt ($733.2), up 4.9 percent, 4.2 percent and 2.5 percent month on month but down 17.6 percent, 19.9 percent and 15.9 percent year on year.
In the January-September period this year, the aggregate gross profit of China’s steel sector totaled RMB 91 billion ($14.6 billion), down 54.3 percent year on year.