Data released by National Development and Reform Commission showed that China steel industry achieved profits of CNY 120.6 billion in the first five months this year up by 14.4%YoY with growth rate down by 514.1%YoY among which mining and dressing of ferrous metal ores realizing profits of CNY 32.46 billion up by 55.9%YoY and Ferrous metal smelting and rolling processing industry CNY 64.02 billion down by 1.1%YoY.

Data also showed that China crude steel output in the first half year hit 350.54 million tonnes up by 9.6%YoY, finished steel output reached 437.41 million tonnes up by 12.8%YoY, coking coal and ferroalloy output also saw more than double digit growth with the growth rates all eying decreases.

The imported iron ore arrived at 334.25 million tonnes up by 8.1%, the exported and imported steel products stood at 24.33 million and 8.03 million tonnes up 3.2% and down by 4.8% respectively YoY, the imported steel billet and exported coking coal arrived at 0.28 million and 2.45 million tonnes up by 6.8% and 75.2% respectively.

Domestic steel prices in June witnessed slight falls with average composite index at 135.2 points down by 0.84 point over previous month and up 18.33 points from the same period last year.

(Sourced from MySteel.net)
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