China's finished steel production exceeded 1 billion tonnes in January-October

The National Development and Reform Commission announced the performance of the Chinese steel industry in January-October 2019. According to the National Bureau of Statistics, from January to October, the national production of pig iron, steel and finished steel amounted to 675.18 million tons, 829.22 million tons. tons and 1.01 billion tons, respectively, up 5.4%, 7.4% and 9.8% respectively over the same period last year. Steel exports continued to decline.

According to the General Customs Administration, during January-October, the country exported 55.087 million tons of steel, which is 5.8 percent less than in the same period last year. Steel prices fluctuated within a narrow range. The composite steel price index in China averaged 108.15 points in October, down 0.43 points, or 0.4 percent, from a month earlier. according to the China Iron and Steel Industry Association. After entering the third quarter, China's composite steel price index showed narrow fluctuations, falling to 104.34 points at the end of October, down 1.7% from the previous quarter and 14.3% from the same period last year.

The NDRC said: “As a result of changes in market demand, steel prices fluctuate within a narrow range and the overall efficiency of metallurgical plants is significantly lower than in the same period last year. The main activities of the metallurgical industry from January to October are as follows.

Steel stocks continue to fall. After increasing to 14.02 million tonnes in the third quarter, social stocks of five types of steel (steel wire rod, hot rolled coil, cold rolled coil, medium and heavy steel sheet) in major cities across the country continued to decline to 12.56 million tonnes at the end of October. , which is 5.6 percent less than in the previous month.