A brief review of China's steel industry over Jan-Oct

sxcoal.com General 2020-12-02 11:10:49

Output keeps growing

China's production of pig iron, crude steel, and finished steel stood at 741.7 million, 873.93 million, and 1.08 billion tonnes over January-October respectively, rising 4.3%, 5.5% and 6.5% compared with the year-ago levels, showed data from the National Bureau of Statistics.

Exports decline but imports increase

The accumulative exports of steel products declined 19.3% year on year to 44.43 million tonnes over the first ten months, with the decline narrowing by 0.3 percentage point compared with January-September, according to the General Administration of Customs.

Imports of steel products, however, extended growth by 1.7 percentage points during the same period compared with January-September. Total imports were 17.01 million tonnes over January-October, surging 73.9% year on year, data showed.

Steel prices on the uptrend

China's steel price index rose 2.9% to 107.34 at the end of October compared with a year earlier, according to the China Iron and Steel Association (CISA). From January to October, China's steel price index average 102.93, down 4.8% on the year.

Profit improves

Key member enterprises of CISA achieved sales revenue of 3.8 trillion yuan ($579 billion) during the first ten months, 7.2% higher year on year. Profit of those enterprises declined 4.5% on the year to 158.5 billion yuan during the same period, with the fall narrowing from 9.4% decline recorded in the first nine months.

The profit margin on sales came in at 4.12%, down 0.5 percentage points from the same period last year.

Steel inventories continue falling

By the end of October, social stocks of five major types of steel (rebar, wire rod, hot-rolled coil, cold-rolled coil, and medium-thick plate) in major cities across China reached 11.27 million tonnes, down 7.8% month on month and 44.2% from the peak in around early-March this year, CISA data showed.

Import iron ore costs hover high

China imported 975.2 million tonnes of iron ore over January-October, up 11.2% year on year. The price of imported ore fines (62% Fe) stood at $116.38/t at the end of October, up $32.34/t or 38.5% from a year earlier, according to the CISA.

(Writing by Emma Yang  Editing by Tammy Yang)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editors Recommendations

1 China's mine-mouth thermal coal prices start falling 2021-01-25

After rising for more than two months, thermal coal prices started falling at key northern production areas in China late last week. It was a slow response to the decline at northern transfer ports em

2 Weekly China thermal coal market analysis and forecast 2021-01-25

China's domestic thermal coal plunged sharply last week, with the decline almost wiping out the rise a week earlier, as buying interest withdrew along with rising temperature. Coal prices may continue

3 China's met coke prices likely to hit new high despite mills' resistance 2021-01-25

China's metallurgical coke prices are likely to head to a new high this week, despite a growing price tussle between coke producers and steel mills. Some coke producers in Shanxi and Hebe

4 Coal railway construction on China-Mongolia border in full swing 2021-01-25

Coal transport from Mongolia to China is expected to further increase in a couple of years as the two governments are accelerating railway construction on the border. Railway connecting M

5 China Coal Daily Track (Jan 25) 2021-01-25

Thermal coal Production area Thermal coal prices showed signs of decline at main production areas. Impacted by downside at major transfer ports, some coal mines in northern Shanxi and

6 Qinhuangdao inventory remains low despite inflow increase 2021-01-25

Coal stockpiles at China's major trading port Qinhuangdao remained below 5 million tonnes, a level that has been maintained for months, despite increased inflows from northern production areas.

7 Thailand thermal coal imports up 8.48% in 2020 2021-01-25

Thailand's thermal coal imports (including bituminous and sub-bituminous coal) in 2020 increased 8.48% year on year to 21.71 million tonnes, showed data from the Thailand Customs. Bitumin

8 Spot thermal coal prices slump further at N China ports; vessel shipping rates fall 2021-01-22

China's domestic spot thermal coal prices continued pulling back at northern trading ports, as the worst period for winter heating has come to an end. Coastal power plants took a break of spot purchas

9 Red-hot coke market boosts coking coal price hikes in China 2021-01-22

China's red-hot coke market kept giving a firm boost to premium coking coal prices, as coking plants continued active coal restocking to feed coke ovens and keep lucrative production after 14 rounds o

10 Japan Dec thermal coal down nearly 14% on yr 2021-01-22

Japan's thermal coal imports in December fell 13.8% on the year to 9.26 million tonnes, according to preliminary statistics from its Ministry of Finance. December's thermal coal imports w

Most Read Articles

1 India intends to source coking coal from Mongolia 2021-01-21

India is considering sourcing coking coal from Mongolia for domestic steel companies, a government official said on January 19, media reported. During an online meeting between India's st

2 Australia may face tougher time as top met coal buyers shift focus 2021-01-21

Australia, a leading metallurgical coal supplier, is likely to face tougher time as its top two importers – India and China – are both looking to diversify source markets amid rising concerns over sup

3 China Dec coal imports from Australia plunge to zero as restrictions still bites 2021-01-21

China didn't let any coal cargoes from Australia pass the customs clearance in December, whereas imports from other major sources like Indonesia and Russia increased sharply, according to data from th

4 China's new coal-fired power capacity up 27.4% in 2020, lags behind renewables 2021-01-21

China added about 56.37 GW of coal-fired power generation capacity in 2020, rising 27.4% compared with a year ago, showed data from the National Energy Administration. However, the growth

5 Vietnam 2020 coal imports hit a record high 2021-01-20

Vietnam's coal import surged 25% on the year to 54.81 million tonnes in the year 2020, hitting a record high, showed preliminary data from the Vietnam customs authority. The country impor

6 China 2020 power consumption up 3.1% on yr 2021-01-20

China's power consumption in 2020 increased 3.1% on the year, as the growth driven by strong economy growth and higher-than-usual winter household heating more than offset the decline during the coron

7 Mongolia coal output falls 20.3% on yr in 2020, exports down 21.7% 2021-01-22

Mongolia's coal output fell visibly last year as exports towards its largest buyer China got subdued by border cut-offs and other measures to tackle the coronavirus pandemic. The landlock

8 Thermal coal sizzling in China's key production areas despite bearishness at ports 2021-01-20

Thermal coal prices showed no signs of abating at major production hubs as demand remained strong from downstream buyers, even after the bearish sentiment appeared at northern transfer ports.

9 Warm weather may cool down China thermal coal market, traders 2021-01-20

Expectations for weakening upward strength in Chinese thermal coal are growing this week following two months of strong rises, as rebounding temperatures in many regions are bringing down utilities' d

10 China's domestic thermal coal prices drift lower on softened demand 2021-01-21

Declines accelerated in the Chinese domestic thermal coal market as end buyers pull backed and waited on the fence for clarity of further market developments. In the following 10 days (Ja