According to the latest release of crude steel production, Chinese crude steel production in November posted YoY slip, probably for the first time in last 10-12 years
This signals dawn of a new era not only for China but global steel sector as this trend reflects severe weakening in steel demand in China, which so far over the years, including the period of post 2008 financial tsunami, has lead the global steel sector by more than compensating losses in other countries and regions.
The month wise Chinese crude steel numbers reflect that Chinese mills remained on full throttle since the beginning of 2011 till July. The first MoM decline was seen in August and since than the reducing trend continues.
In absolute terms, the Chinese crude steel production in November is down by more than 10 million as compared peak of 60 million tonne plus in May 2011.
| Month | 2011 | 2010 | YoY |
| Jan | 59,871 | 52535 | 14.0% |
| Feb | 54,307 | 49518 | 9.7% |
| Mar | 59,416 | 54521 | 9.0% |
| Apr | 59,032 | 55141 | 7.1% |
| May | 60,245 | 55877 | 7.8% |
| Jun | 59,932 | 53569 | 11.9% |
| Jul | 59,300 | 51348 | 15.5% |
| Aug | 58,752 | 51636 | 13.8% |
| Sep | 56,700 | 47945 | 18.3% |
| Oct | 54,673 | 50304 | 8.7% |
| Nov | 49,883 | 50173 | -0.6% |
In '000 tonnes
Source - worldsteel
Although the Chinese crude steel production during the 11 months of 2011 is up 9.8% YoY, the declining trend does not forbade too well for global steel production growth prospects for 2012, as it was the Chinese growth which was driving the growth in global crude steel production.
| YTD '11 | YTD '10 | YoY |
| 630984 | 574477 | 9.8 |
In '000 tonnes
Source - worldsteel
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