In the first half of the current year, Hebei Province exported 17.5320 million mt finished steel, rising by 61.78 percent, with a value totaling $8.11 billion, increasing by 24.02 percent, both year on year, according to the Hebei Metallurgical Industry Association.
In particular in the given period, Hebei’s finished steel exports accounted for 33.38 percent of overall finished steel exports in China, increasing by 7.0 percentage points year on year.
Meanwhile, in the first half of the current year, raw iron ore output in Hebei Province amounted to 215.5366 million mt, down 13.31 percent year on year.
As July is the traditional offseason for steel demand, the resulting more difficult conditions for steelmakers in Hebei Province are expected to result in declines in their output figures for the main steel products and to negatively impact the steelmakers’ profitability for July.