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China's crude steel output down 6.05% in Aug from July, to rebound -铸件展-铸件采购会-国际铸件展-铸造工业展-2025第二十五届广州国际铸件产品及铸造工业展会-巨浪展览-The 25th China(Guangzhou) Int'l Casting Products ,foundry Industry Exhibition
9/19/2024 铸件展-铸件展会-casting expo-casting exhibition |
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In August this year, China''s outputs of pig iron, crude steel and finished steel totaled 68.14 milion mt, 77.92 milion mt and 110.90milion mt, decreasing by 8.8 percent, 10.4 percent and 6.5 percent year on year, while declining by 4.57 percent. 6.05 percent and3.03 percent month on month, respectively, as announced by China''s National Bureau of Statistics (NBS). The decrease in crudesteel production was fairly sianificant following the big month-on-month decrease of 9.46 percent recorded in july., amid slackdemand from downstream users and decreasing steel prices
In the January-August period this year, China''s outputs of pig iron, crude steel and finished steel totaled 577.7 milion mt, 691.41milion mt and 925.73 milion mt, decreasing by 4.3 percent, decreasing by 3.3 percent, and increasing by 0.4 percent year on yearrespectively. The decline in crude steel production was 1.1 percentage points faster than the 2.2 percent decrease seen in theJanuary-July period.
The crude steel production declines in july and August have failed to help the market, which has been suffering from poordomestic steel demand due to the real estate crisis in China, and sources are awaiting more fundamental changes in order to seea change in the market situation. The haling of China''s capacitly replacement program will be not enough to help the market in theshort term.
In early September (September 1-10) this year, the average aggregate daily crude steel output of large and medium-sized steeenterprises in China - all ClSA members - totaled 1.936 milion mt, up 2.7 percent compared to late August (August 21-31) thisyear, following the big decline of 5.24 percent recorded in late August compared to mid-August
Total steel production in September is expected to increase as the market enters the traditional peak season for business, thoughmore time is needed to observe the release of demand from downstream users as total real estate investments in China stilindicated a bia decline of 10.2 percent year on year in the January-Auqust period
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