NDRC: China’s crude steel output up 9.2 percent in January-February

Wednesday, 03 April 2019 12:05:45 (GMT+3)   |   Shanghai
       

In the January-February period of the current year, China’s crude steel output amounted to 149.58 million mt, up 9.2 percent year on year, as announced by the National Development and Reform Commission (NDRC). In the given year, China’s finished steel output and coke output amounted to 171.46 million mt and 73.89 million mt, up 10.7 percent and 7.6 percent year on year, respectively.

As also indicated by the NDRC, in February this year China's average composite steel price index issued by the China Iron and Steel Association (CISA) was at 107.58 points, up 0.14 points compared to December of last year and decreasing by 7.18 points year on year.

In particular, in February of the current year, the average prices of 6.5 mm high-speed wire rod and 1.0 mm cold rolled coil (CRC) were respectively RMB 3,938/mt ($586.9/mt), and RMB 4,357/mt ($649.3/mt), down RMB 81/mt ($12.1/mt) and RMB 18/mt ($2.7/mt), both compared to December last year. The prices in question declined by 3.6 percent and 9.4 percent on year-on-year basis, respectively. Meanwhile, in February this year, the average price of 20 mm common medium plate was recorded at RMB 3,964/mt ($590.8), up RMB 85/mt ($12.7/mt) compared to December last year, while declining by 4.8 percent year on year.

At the same time, in the January-February period this year China’s steel industry registered a gross profit of RMB 29.6 billion ($4.4 billion), down 49.5 percent year on year.

 

LEAD:   In January-February this year, China’s crude steel output amounted to 149.58 million mt, up 9.2 percent year on year, as announced by the NDRC.


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