(HSV VIETNAM GROUP) - Mr. Zhao Mingge, Chairman of China Iron and Steel Association (CISA) said that thanks to the state's effective production control measures to achieve a dynamic balance between supply and demand, strengthening the industry's self-regulation and production control, China's steel output in the first half of the year decreased compared to the same period last year, while the industry's profits have recovered to a reasonable level.
Steel output decreased year-on-year, while inventories remained low in recent years. According to data from the National Bureau of Statistics, in the first half of the year, China's crude steel output reached 515 million tons, down 3.0% over the same period last year.
The equivalent crude steel consumption reached 452 million tons, down 5.6% over the same period last year. In particular, the output of hot rolled steel plates and coated steel plates increased rapidly compared to the same period last year.
According to monitoring data from the China Iron and Steel Association, in the first half of the year, the average month-end steel inventory of key steel enterprises was 18.91 million tons, while in the same period in 2022, 2023 and 2024 it was 20.33 million tons, 20.88 million tons and 20.56 million tons, respectively.
In terms of prices, the China Steel Price Index (CSPI) averaged 93.75 points in the first half of the year, down 13.35% over the same period last year. However, the general price trend remains relatively stable.
However, it should be noted that steel inventories at key statistical enterprises were on an upward trend in June, up .2% year-on-year at the end of June. During the same period, steel prices fell, with the CSPI index falling to 89.51 points at the end of June, the lowest level in nearly eight years.
Ha Diem HSV