SteelOrbis Shanghai
Just like an old saying "a coin has two sides", long-term contract ore, which used to be a powerful weapon of reducing costs for those large and medium steel mills in the past, became an important factor restricting them from production capacity release in the month of November.
As a result of the sharp slump in spot ore prices, small mills have gained a remarkable advantage as regards their production costs, thus their productions have recovered very fast. Meanwhile, restricted by the high-cost contract ore, large and medium mills had to maintain their production cuts until the rebound observed in finished steel prices, so as to reduce their loss.
In November, among the sixty-seven key large and medium scale producers listed by the China Iron and Steel Association (CISA), the total output of pig iron was 24.4707 million mt, down 5.3187 million mt or 17.9 percent year on year; their average output on a daily basis was 815,700 mt, down 47,600 mt or 5.5 percent month on month. Meanwhile, the output of these sixty-seven producers accounted for 73.01 percent of China's total pig iron output in November.
With regard to crude steel, the output of these sixty-seven producers in November was 25.85291 million mt, down 7.2647 million mt or 21.9 percent year on year; their average output on a daily basis was 861,800 mt, down 57,700 mt or 6.3 percent month on month. Meanwhile, the output of these producers in the month in question accounted for 73.5 percent of China's total crude steel output.
As for finished steel, the output of the sixty-seven producers in question in November was 24.4433 million mt, down 5.5385 million mt or 18.5 percent year on year; their average output on a daily basis was 814,800 mt, down 45,400 mt or 5.3 percent month on month. Meanwhile, the output of these 67 producers accounted for 57.8 percent of China's total finished steel output in November.
Among the sixty-seven steel producers in question, the top five companies regarding pig iron output in November are as follows:
Top five companies as regards crude steel output in November are as follows:
Top five companies in terms of finished steel output in November are as follows:
