In the January-August period of the current year, China’s crude steel output amounted to 617.4 million mt, up 5.8 percent year on year, as announced by the National Development and Reform Commission (NDRC). In the given year, China’s finished steel output and ferroalloys output amounted to 725.27 million mt and 20.23 million mt, up 7.1 percent and 4.8 percent year on year, respectively, while China’s overall output of metallurgical coke totaled 285.81 million mt, down 2.9 percent year on year. Meanwhile, in the given period China’s finished steel exports amounted to 47.18 million mt, down 13.1 percent, while its finished steel imports totaled 8.76 million mt, decreasing by 0.1 percent, both year on year.
As also indicated by the NDRC, in August this year China's average composite steel price index issued by the China Iron and Steel Association (CISA) was at 120.55 points, up 4.44 points compared to July and rising by 7.78 points year on year. In particular, in August of the current year, the average prices of 6.5 mm high-speed wire rod, 20 mm common medium plate and 1.0 mm cold rolled coil (CRC) were respectively RMB 4,473/mt ($652.1/mt), RMB 4,477/mt ($652.6/mt) and RMB 4,863/mt ($708.9/mt), up RMB 269/mt ($39.2/mt), RMB 91/mt ($13.3/mt) and RMB 112/mt ($16.3/mt), all compared to July. The prices in question rose by 8.0 percent, 13.0 and 3.8 percent on year-on-year basis, respectively.