China’s steel output fell 3.4% on year in Jan – Sept, steel prices slid 11.4% – industry body
COMMODITIES DATA
China’s steel output fell 3.4% on year in Jan – Sept, steel prices slid 11.4% – industry body
COMMODITIES DATA

China’s steel output fell 3.4% on year in Jan – Sept, steel prices slid 11.4% – industry body

 

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China produced a total of 781 million tonnes of steel in the first three quarters of the year, falling 3.4% from a year earlier, said the China Iron and Steel Association (CISA).

Output of pig iron reached 656 million tonnes in the period, a drop of 2.5% year over year, and output of steel products reached 1.01 million tonnes, falling by 2.2% from a year earlier, showed the data.

In particular, the average daily steel output reached 2.63 million tonnes in July, the lowest level this year, and the output recovered in August and September amid economic recovery and improving market expectation, said the CISA.

The China Steel Price Index (CSPI) compiled by the association averaged 126.9 in the first nine months of the year, sliding 11.4% from a year earlier, according to the association.

Steel prices rose slightly in January – April, declined continuously in May – July, before stabilizing in August – September, said the association.

By the end of September, the CSPI stood at 112.76, down 1.41% from the previous month, sliding 14.4% year to date and slumping 28.5% from the same period last year, showed the data.Â